14 DAY TRIAL // Open-source media center software maker Boxee just closed a $6 million Series B round of funding, with Boston venture capital firm General Catalyst Partners leading the round followed by Spark Capital and Union Square Ventures, which have already invested in the company. Boxee just got $4 million in its first round in November 2008, bringing the total funding to $10 million.
“General Catalyst brings more than just money to the table. We wanted a partner to help us as we strengthen our relationships with big media and cable companies. As we learned (the hard way), it is a complicated world. Neil and General Catalyst as a firm have years of experience, deep understanding, and extensive network in these industries, and we are looking forward to working together with them,” Boxee founder and CEO, Avner Ronen wrote.
Neil Sequeira from General Catalyst will also be joining Boxee's board of directors and the company raised the additional funding in preparation for further growth spurred by the momentum it’s been gaining in recent months. One of the biggest moves and, arguably, the most important for the company, financially, is seeing the software integrated in more consumer electronics devices like Blu-Ray, game consoles or set-top boxes. The company actually didn't expect much interest from these manufacturers until 2010 but it seems like it may have underestimated the response.
Another major goal is actually improving on the product itself as, even if Boxee boasts a healthy 600,000 users, the software is still in alpha. An important beta release is scheduled this fall and the company is looking even further ahead with more mature releases in 2010. Still, better software and CE integration doesn't really mean anything without content and securing deals with content creators and services is another important goal. Boxee has just recently closed a deal with MLB.TV bringing Major League Baseball content to the media app and the deal was the first of its kind with a major live content provider.