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Video - Monday, October 15, 2007

BlackArrow Raises Funding For Ambitious Video Agenda

NYC-based BlackArrow has raised $12M in its 2nd round of funding. Cisco Systems was joined by return backers Comcast Interactive Capital, Intel, Mayfield and Polaris. The company also announced that Larry Kramer, founder of MarketWatch, has joined its board of directors. Also, former Knight Ridder VP of technology Sharon Mandel has joined as BlackArrow's VP. Mendel is one of at least 3 senior execs at BlackArrow who come from Knight Ridder. As its VP of Product Management, the company has Chris Hock who who was with Macromedia where he managed the Flash video delivery business and led the creation and launch of media-delivery related products and services including Flash Media Server, Flash Media Encoder and the Flash Video Streaming Service.

Broadcast Newsroom reports that BlackArrow is developing an ad-management system that will be able to place and track ads in video content played out in three different mediums: the Internet, cable video-on-demand and digital video recorders. "The new opportunity is to tap the migration of people from traditional broadcast TV to other platforms," BlackArrow CEO Dean Denhart said.

BlackArrow has not yet announced any users, however, given their investors and the backgrounds of its execs, we would expect sales to larger media companies.

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