Broadbus snags $12 million

By Susan Rush
From The October 7, 2002 Edition Of CED Broadband Direct

Video-on-demand server systems startup Broadbus Technologies Inc. has received a $12 million shot in the arm. Comcast Interactive Capital participated in the Series A-1 round of financing.

Broadbus came onto the VOD scene in 1999. The company, which has not announced when it will begin market trials, plans to offer a VOD system powered by its B-1 Streaming Media Server family. The line features high-density random access memory (RAM) subsystems. The servers are designed for the delivery of VOD services over cable networks.

The round was led by Battery Ventures and Charles River Ventures. Battery Ventures' Todd Dagres and Charles River's Santo Politi will join Broadbus' board of directors.

In April, Broadbus signed on as a Starz on Demand Subscription VOD Deployment Partner. The deal enables Broadbus to include Starz on Demand content in its deployments.