US$12 million in additional VC funding for ExtendMedia

BOSTON – Toronto-founded ExtendMedia has announced it received US$12 million in venture capital funding in a Series B round led by TVM Capital. Previous investors Atlas Venture and Venrock Associates also participated in the current round. This financing follows a previous US$11 million Series A round, bringing funding to a total of US$23 million. The additional funds will be used to accelerate sales, marketing and product development efforts to meet strong market demand for both direct-to-consumer and ad-supported digital content businesses. Extend provides a digital content service delivery platform that enables content rights holders and distributors to quickly create, manage,...