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March 12, 2009
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October 22, 2008
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June 5, 2006
TVHead Raises $11.5 Million In Series B Funding

 


Cupertino, Calif. June 5, 2006

TVHead Raises $11.5 Million In Series B Funding: To Support Development Of Company's Games-On-Demand Television Network

Investments by Bay Partners, Mitsui Incubase and Apax Partners Reflect Positive Market Traction.

TVHead, the premier games-on-demand television network, announced today that it has raised $11.5 million in new financing. The Series B funding was led by Bay Partners, with participation from Mitsui Incubase and funds advised by Apax Partners, L.P., the company's Series A investor. TVHead will use the funding to broaden consumer trials and deploy to initial target markets in late 2006.

"TVHead has figured out how to offer the cable and IPTV industries a compelling interactive games channel on TV without any new investments in technology," said Chris Noble, General Partner at Bay Partners. "For operators, who are constantly seeking additional revenue streams, TVHead's offering is a no-brainer – it allows operators to participate in the lucrative games industry by delivering entertaining, family-friendly games and content to millions of homes."

"We have amassed such a high quality group of investors who not only believe in the potential of TVHead, but, more importantly, who will also help us build the premier games-on-demand network," said Sangita Verma, TVHead's CEO. "We are galvanized by our investors? support and look forward to providing the cable and IPTV industries with a valuable, highly-demanded television network."

The TVHead Games-On-Demand Network seamlessly integrates into existing VOD infrastructures, providing a uniform high-quality game experience to 100% of VOD-enabled households. Targeting nearly 60 million North American households that spent $11 billion last year to play games on consoles, PCs, the internet and wireless handsets, TVHead's high-quality casual game network provides a compelling experience attractive to core television audiences at home.