CinemaNow Raises $11M

Santa Monica-based CinemaNow has raised $11M in Series D funding from Menlo Ventures. Cisco Systems and existing investor Lions Gate Entertainment also participated. CinemaNow provides online, video-on-demand content and distribution services, and has inked licenses with such studios as Disney, Fox, Lions Gate, MGM, Miramax, and Warner Bros. to provide feature films via broadband. The company said that the funding would be used for further technology development, content acquisition, and marketing, and also said that it expects to use the funds to broaden its presence in Europe and Asia. More information »