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| September 25, 2006 | Press Release |
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| Ecast Raises $20 Million in New Financing |
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| Portfolio Company: Ecast |
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San Francisco, CA - Ecast, Inc., the leading out-of-home interactive media company that operates the largest network of broadband-enabled, digital touch-screen jukeboxes, today announced the completion of a $20 million financing round.
The financing was led by new investor, Focus Ventures, and included participation by existing investors including Mobius Venture Capital, Crosslink Capital, DCM, and El Dorado Ventures.
The company expects to focus the net proceeds of this investment to expand its sales channel, target new markets, increase research and development and to supplement sales and marketing efforts.
"I am gratified by the continued support of our existing investors and welcome Focus Ventures to our team. In addition to funding, each of our investment partners brings to Ecast immeasurable guidance and managerial support," said John Taylor, chief executive officer, Ecast. "This current round of funding will enable us to roll out new product enhancements that will simplify system deployments and allow us to significantly expand our national footprint over the next 12 months."
"Ecast is a fast-growing business that brings the advantages of broadband digital media to the jukebox industry," said Steve Bird, general partner, Focus Ventures. "We see a great opportunity for the company to build a significant revenue stream from advertising that is highly interactive and superbly targeted."
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