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Mondo Media secures over $17 million in third-round financing

Published on .

Mondo Media, a digital entertainment provider, secured more than $17 million in its third round of equity financing. The round, led by SBVC with supporting investment for global expansion from Venturepark, also included returning investors Foundation Capital, Sofinnova Ventures and Red Rock Ventures. Concurrently, Carl Rosendahl, principal managing director-SBVC, joined MondoMedia's board. The investment will drive Mondo Media's continued expansion of its digital entertainment distribution network, including its syndication relationships with Web sites including WB's Entertaindom, Excite@Home, iWon.com, Terra Lycos, Real Networks, shockwave.com and Netscape Communications' Netcenter. The funds also will be used to fuel network growth in Europe, and to bolster Mondo Media's portfolio of digital entertainment content.Currently Mondo Media syndicates more than a dozen weekly Mondo Mini Shows.

Copyright January 2001, Crain Communications Inc.

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