NetStreams Receives Funding from Austin Ventures
Apr 23, 2004 1:41 PM
NetStreams (www.netstreams.com) announced its partnership with Austin Ventures (www.austinventures.com). The capital infusion gives NetStreams greater leverage to expand its nationwide marketing and communications strategies, as well as the technology behind its product offering.
With $2.4 billion under management, Austin Ventures will provide NetStreams with capital investment, as well as years of experience and resources. This collaboration will enable NetStreams to focus at the core of its business: developing technology to simplify a consumer’s home entertainment experience and making it more enjoyable.
“NetStreams’ IP-based digital entertainment distribution technology will be the basis for the future of whole-house audio and video distribution and control,” says Herman Cardenas, president and founder of NetStreams. “Since NetStreams was founded, our team has shown exceptional commitment to revolutionizing home entertainment, and those efforts have produced the benefits behind products like our DigiLinX and Musica systems. We’re very proud to be joined in our commitment by a firm as renowned as Austin Ventures.”
“We believe that NetStreams is creating a paradigm shift in its industry while significantly enhancing the consumer experience,” says Clark Jernigan of Austin Ventures. “The custom installation market has rapidly gained momentum in recent years, and we’re confident NetStreams will be a key enabler of the industry’s continued growth with its innovative technology and products.
