PeHub is reporting that eCast Inc., a maker of Internet-connected touch-screen jukeboxes found in bars and nightclubs, has raised the first $12.3 million of a planned $18.6 million round. I've contacted eCast, which has not yet confirmed the new round's existence.
ECast recapitalized in mid-2003 and raised more than $40 million in three rounds over the next three years. Focus Ventures led its last round, a $20 million funding announced in September 2006, with prior stakeholders Mobius Venture Capital, Crosslink Capital, DCM and El Dorado Ventures also participating. At that time, chief executive John Taylor told The Deal he expected eCast to reach profitability without additional funding by the end of 2007.
Prior to the recap, San Francisco-based eCast merged with digital media delivery company RioPort Inc. in October 2002. Oak Investment Partners and St. Paul Venture Capital invested in the merged company alongside DCM and El Dorado. Founded in 1999, eCast had previously raised an unspecified amount of capital.
I'll update later Wednesday afternoon, if eCast has anything further to say. - Paul Bonanos
See eCast coverage from The Deal from September 2006 and October 2002
See May 26 post from peHub
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