DivX Raises $17M

San Diego-based DivX said today that it has raised $17M from Insight Venture Partners. DivX is developing a highly compressible video media format that it is marketing to manufacturers of DVD players and video software. DivX said that Jerry Murdock of Insight will join the company's board of directors. DivX said that it plans to expand its global sales and business operations into emerging markets in the coming year. Insight was the sole investor in the venture round, according to the company. More information »