Verizon Investments, a subsidiary of Verizon Communications, has helped US-based fabless semiconductor company Zenverge raise a new round.
Zenverge said it would use the funds to accelerate the deployment of media and to accelerate its move towards higher performance and low cost products
Daniel Keoppel, executive director at Verizon Ventures, said: “As consumers seek new levels of access to broadcast and DVR content in the TV Everywhere eco-system. There is a great need for low cost, high performance transcode technology.”
Last year Zenverge closed a $26.5m round of series D financing, led by US-based semiconductor manufacturer Entropic Communications. Electronics industry newspaper EE Times reported Entropic’s investment to be $10m.
Corporate venturing unit Motorola Mobility Ventures, which is being acquired by search engine Google, venture capital firms DCM, Norwest Venture Partners, Battery Ventures and Woodside Fund, and private equity firm the CID Group made up the participants in the round.
Zenverge previously raised $30m for its series C round, in April 2010, from Motorola Ventures, DCM, Norwest and Battery. Zenverge’s earlier funding rounds, several of which took place under its old name of Xilient, raised $36.6m, with DCM and Norwest both contributing.