Newport Media Raises $25M Series B

Lake Forest-based Newport Media, a developer of semiconductors targeting the mobile TV receiver market, has raised $25M in a Series B funding. The round was led by Oak Investment Partners, and included participation by prior investors Benchmark Capital, Venrock Associates, Global Catalyst Partners and Pinnacle Ventures. Newport Media is developing system-on-a-chip solutions (SoC) for digital video broadcasting reception. The company said that the funding would be used for ramping volume shipments and bringing its products to market. This round brings the company's total funding to over $36M. More information »