avatar
Computers, General news, Communications, Internet, Finance

Net Video TV Set-Top Box Tunes In $25M


Sezmi on Monday dialed in $25 million from venture backers to continue development of its set-top box capable of running television, on-demand movies, and Internet video.

Belmont, California, Sezmi also announced plans to start trials of its service for free in Los Angeles.

“With a deep understanding of the changing needs of television viewers, Sezmi created a completely new end-to-end offering to meet those evolving needs,” said Phil Wiser, co-founder and president of Sezmi, in a statement.

The funding round, Sezmi’s third, brings the startup’s total backing to $78 million.

Investors in Sezmi included unnamed strategic investors and had participation from return backers Morgenthaler Partners, Index Ventures, Legend Ventures, Omni Capital, and TD Fund.

Sezmi scored a $33 million round last year at a post-money valuation of roughly $170 million, according to PE Week.

Silicon Valley is home to some notable set-top box makers, including Apple’s Apple TV and Vudu’s Vudu box, a set-top box that offers peer-to-peer deliver of movies and boasts instant streaming.

Sezmi said its set-top box will become available via broadband service providers and unnamed national retailers.