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Boxee Raises $16.5 Million For Its Vision For The “Future Of TV”

March 1st, 2011 03:21 admin Leave a comment Go to comments

Boxee has announced on its blog that it has raised $16.5 million in third-round funding. This brings the total of capital raised by the company to $26.5 million.

The investment comes from new investors Pitango and Softbank, with participation from prior backers General Catalyst, Spark Capital and Union Square Ventures.

Boxee points out it has grown from 12 to 34 employees since its last ($6 million) round of funding, and that it plans on hiring some more.

The extra capital will be used to enhance its software, solve bugs and build new functionality. In the company’s words:

One of our greatest challenges will be to add more movies, TV shows, and video while at the same time making it easier to discover and watch them. We have ideas on both fronts and are excited to get to work.Many of you would like to see Boxee handle all the video on their TV with no need to switch inputs. We’d like to get there, too.

In addition to product enhancements, the funding will be used to strike more content and hardware manufacturer partnerships.

Source: Boxee Raises $16.5 Million For Its Vision For The “Future Of TV”

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