Granite Ventures leads $12.5M round for RipCode

RipCode Inc., which develops technology that helps transmit Internet video, has raised $12.5 million in a funding led by Granite Ventures.

Also investing in the round were previous backers Hunt Ventures, Eldorado Ventures, Vesbridge Partners and ATA Ventures. Granite managing director Eric Zimits joined RipCode's board as part of the deal.

RipCode received a second round worth $10.5 million in August last year. The company, founded in 2005, makes a network appliance for video transcoding that is designed to enable faster repurposing of mobile TV, social-networking video and studio-based productions. - Olaf de Senerpont Domis

See Jan. 6 press release from RipCode

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