Heard It Through the Widevine

TechFlash reports: Widevine Technologies has raised a fresh round of capital. But chief executive Brian Baker said there's a lot more to the story than that. The 10-year-old company—which has been operating at breakeven—is lining up cash from what Baker described as a a "very large customer."

He plans to announce the financing and details of the strategic partnership in the coming weeks. A Securities and Exchange filing yesterday indicated that Widevine had raised $7.2 million of a $9.5 million round, but Baker said that amount as inaccurate.

It could be that the capital is simply part of a larger financing round, but Baker declined to discuss details. He said the company—which securely delivers digital television to mobile devices—was not actively looking for venture capital money. But, after the customer approached him, a deeper relationship occurred.

Widevine certainly has been well-funded over the years, raising more than $65 million in capital from the likes of Cisco, Constellation Ventures, Charter Ventures, and VantagePoint Venture Partners.

Its customers include Blockbuster, Best Buy, EchoStar, and AT&T. Widevine employs about 65 people.