Video transcoding vendor RipCode has raised $10.5m in a series B round of funding to expand sales, marketing and R&D.
The Dallas, Texas-based company promises to reveal details next month of its transcoding appliance which, it claims, can rapidly process multiple video files simultaneously for viewing across a variety of media including PCs, mobile phones and iPods.
It says this will enable broadcasters, content syndicators, and user generated video sites to reduce hardware, storage and energy use while offering customers a greater variety of content choices.
RipCode quotes researchers at IDC as forecasting that 24 million US cellular subscribers and customers will be paying for some form of TV/video content and services on their mobile devices by 2010, up from about 7 million this year.
The funding was led by ATA Ventures with support from from Hunt Ventures, Vesbridge Partners and El Dorado Ventures.