Accel Pours $8M into Israeli RayV
Written by on October 10th, 2007 in Ajax News.
Globes is reporting that RayV has raised $8M in Series B from Accel Partners.
While the company has been in stealth mode, and its site offers little information, sources have confirmed that RayV is developing a P2P live broadcasting offering. Evidentially, users will be able to create and broadcast video playlists at “high video quality”. Similar to Joost, RayV will require the installation of a client application.
To date, the company has been funded mainly by Ron Zuckerman who is among the founders of Magma Venture Partners (formerly Magnum Ventures). Zuckerman also co-founded Precise (acquired by Veritas) and Sapiens.
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Source: TechCrunch
Original Article: http://feeds.feedburner.com/~r/Techcrunch/~3/168065403/