Santa Monica,
Calif. – EdgeCast Networks, a
provider of content delivery network services, announced on Monday that it has raised
$10 million in its third round of financing, led by Menlo Ventures.
Previous
backer Steamboat Ventures also participated in the round.
Founded in 2006, Santa
Monica, Calif.-based EdgeCast offers companies services that help speed their
content across the Internet. The company’s more than 1,000 clients include
IMAX, ESPN and Lionsgate.
EdgeCast, which posted a profit in the fourth quarter
of 2009, told NewTeeVee it plans to use the funds in part to expand its
workforce by 50%, as well as for enhancements to its product line.
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(NewTeeVee)
