PacketVideo Closes Series E Financing

PacketVideo Corp. (www.packetvideo.com) announced that it has raised nearly $100 million in its Series E Preferred Stock round of financing. This round brings PacketVideo's total amount of private funding raised to nearly $140 million.

PacketVideo's Series E investors include BFD First Global Partners, GE Equity, Intel Capital, Kyocera, Mobile Internet Capital, Motorola, MTI, Nexus Group, LLC, QUALCOMM, SAIC Venture Capital Corp., Siemens' Mustang Ventures, Softbank Technology Group, Sun Microsystems, Texas Instruments, and Wheatley Partners.

These companies join a list of earlier investors that include Credit Suisse First Boston, Philips, Reuters, Sonera, Sony Corp. of America, and Time Warner.

The company states that the funds from this round will be used to further PacketVideo's growth, provide working capital, fund research and development, and support additional resources for engineering, sales and marketing.