RioPort Gets $31.5 Million in Second-Round Financing
RioPort (http://www.rioport.com) said today that it has closed $31.5 million in second-round financing.
Investors include S3 Inc., Vulcan Ventures and Oak Investment Partners, EMC Corp., Quantum Technology Ventures and Mitsubishi Corp.
RioPort says it will utilize the funds to build its "Pulse One" service, which provides record labels with a way to securely deliver content to consumers via RioPort's e-tailers.
Second-round venture capital was provided by Oak Investment Partners, a leading venture capital firm based in Silicon Valley, and Vulcan Ventures Inc., the investment organization of Paul G. Allen, both of which were lead investors in RioPort's $30 million first-round financing in October 1999.
"The financing provided by our new and returning investors will provide the capital and strategic partnerships RioPort needs to build its momentum as the leading music ASP in this emerging market," said James Long, president and CEO of RioPort Inc.