Nokeena Funding

SANTA CLARA, Calif., June 25, 2009 - Nokeena Networks, the industry’s leading media infrastructure solution delivering a television-like viewing experience at dramatically lower costs, announced $6.5 million in new venture capital funding led by Mayfield Fund, with participation by existing and strategic investors.  This new infusion of capital takes the company’s total funding to $15 million.  The company will leverage the new funding to deliver its new media infrastructure to content publishers and distributors via marketing and sales initiatives.

“The additional financing marks a significant milestone as we enter the next phase of company growth,” said Rajan Raghavan, co-founder and CEO, Nokeena.  “We are honored now to add Mayfield Fund to our prestigious group of blue-chip investors and look forward to leveraging their expertise in the online video market.  Our ability to complete this investment in the current economic environment underscores the immediate and prospective value we are delivering to our customers and partners.” 

Founded in February 2008, Nokeena has had an exceptionally rapid release to market, from innovation to market proven platform.  The continuous consumption of high-quality media over PCs, high-definition TV and mobile devices has generated huge increases in the volume of online traffic that must be delivered by media publishers and distributors.  To date these organizations have been forced to over-provision their existing delivery infrastructures in an attempt to address the quality and scalability challenges created by this surge in media traffic.  With the company’s Media Flow Director, Nokeena delivers a solution that not only reduces cost of delivery infrastructure but also enables a TV-like viewing experience.  It also provides deployment flexibility sought by content publishers and aggregators as well as content delivery networks (CDNs).  The company has received favorable response from market analysts, publishers, social media and editorial influencers.

“Nokeena has the three magic ingredients for success - a world-class team of proven entrepreneurs, an innovative solution and a large market opportunity with an impossible-to-resist value proposition,” said Navin Chaddha, Mayfield MD and co-founder of VXTreme, now Windows Media.  “We look forward to working with Rajan, Prabakar and their team to establish Nokeena as the standard for online media serving at massive scale, while providing a television-like viewing experience at dramatically lower delivery costs.“

Nokeena is the first investment of Mayfield's latest fund, the $395 million Fund XIII, which was raised in September 2008.

As part of the new investment, Navin Chaddha will be appointed to Nokeena’s Board of Directors.  He joins Rajan Raghavan, Prabakar Sundarrajan, Sumant Mandal, Managing Director, Clearstone Venture Partner, Fred Wang, General Partner, Trinity Ventures and B.V. Jagadeesh, CEO and President, 3Leaf.