Mountain View, Calif. — CiiNOW, the Mountain View-based developer of platform that delivers visually rich applications using the real-time cloud, said on Friday it has raised $13 million in its first round of funding. Investors included Foundation Capital, Alcatel-Lucent and a third unnamed participant.
“We raised an aggressive round of funding to accelerate hiring, engineering and partnership development to meet customer demand,” said chief executive officer Ron Haberman. “We are also discussing strategic investments with several partners as we build out the ecosystem our next-generation real time cloud compute platform.”
CiiNOW’s HybridGFX technology transmits compressed graphics commands with overlaid video, reducing required bandwidth while increasing image fidelity and minimizing datacenter costs. The technology is geared to help publishers, retailers and carriers more easily tap into the gaming industry as it transitions from physical media formats to digital distribution.
This article was also published in Bay Area Tech Wire.
Press release – http://tinyurl.com/7kpaa7yPhoto by Flickr user AMagill, used under Creative Commons license