Popcast Communications Corp., a provider of business-to-business streaming media software and services, announced Tuesday that it has received a total of US$10.8 million in investment from Intel Capital and Telesystem Ltd.
The cash infusion, in a preferred A round of financing, will allow the privately-held company to broaden the reach of its Webcasting products and services to both businesses and consumers, as well as expand its research and development efforts, Los Angeles-based Popcast said in a statement.
Other terms of the investment were not disclosed. Intel Capital is the strategic investment arm of chip maker Intel Corp. Telesystem is a privately-held investment company.
Intel and Popcast are no strangers. In June, the two companies announced an agreement to integrate certain multimedia authoring capabilities of Intel's Easy Web Media software into Popcast's customizable Popcaster software.
Separately, Popcast on Monday announced that its personal Webcasting technology has been integrated into Microsoft Corp.'s Windows Movie Maker, a feature of the software giant's new Windows Millennium Edition operating system aimed at consumers.
Popcast Communications, in Los Angeles, can be reached at +1-323-462-5335 or via the Web at http://www.popcast.com/.