Conviva, a startup promising a superior way for companies to distribute live internet video, has raised a big $20 million second round led by UV Partners, along with past backers New Enterprise Associates (NEA) and Foundation Capital. The San Mateo, CA-based company, previously known as Rinera, raised $9 million early last year, for a total raise of $29 million. The company's technology is a bit of a mystery, compounded by the fact that it's raised so much money before having a product to sell. The announcement says the company is building a "virtual living room," though CEO Carlos Ramn didn't care to clarify what that meant in an interview with NewTeeVee. Sans any details about itself, the company is mainly speaking up about the weaknesses of current technology. Release.
By Joseph Weisenthal