CinemaNow Secures $11 Million in New Funding

CinemaNow has secured $11 million in Series D financing led by Menlo Ventures. Additional investments were made by Cisco Systems, and existing investor Lions Gate Entertainment. The company said the proceeds will be used to further technology development, content acquisition and marketing. The company also expects to broaden its presence in Europe and Asia to meet the rising market demand for its products and services.



CinemaNow's Web site currently boasts over 5,000 titles with content from nearly 200 licensors including Disney, Fox, Lions Gate, MGM, Miramax and Warner Bros. The site makes content available on a pay-per-view, subscription and download-to-own basis and is accessible worldwide.



CinemaNow has also developed "PatchBay", a proprietary content-on-demand distribution and management system that runs the CinemaNow web site, and is licensed to operate third-party sites such as NHL.com and LiveMetallica.com. http://www.cinemanow.com