Boxee Goes Hunting for Big Bucks
Boxee, which makes software that makes it easy to watch Web video on your TV, celebrates a big milestone this week, when the first Boxee-branded hardware starts shipping to consumers. The start-up is celebrating with an event at New York’s Irving Plaza. But the company’s next big move likely won’t happen in public view: Sources say Boxee is out trying to raise a significant funding round, likely in the $10 million to $15 million range. I’m told that existing investors Union Square, Spark and General Catalyst, which have helped Boxee raise $12 million to date, all plan to re-up, and will likely pick up half of the round. No word on who the new money is, or how close the round is to closing. CEO Avner Ronen will need it sooner than later, though. His two-year-old company now has a significant payroll–33 people, at last count–and very little revenue coming in the door.
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