ON Networks Adds $12M

Austin-based ON Networks said this morning in San Francisco that it has raised $12M in a Series B funding round. ON Networks said that it will deliver original, on-demand shows in high definition format. The company also disclosed it had received a $4M, Series A funding round in November of 2006. The Series B round came from Accel Partners, along with Austin Ventures and AT&T. In conjunction with the funding, Peter Wagner of Accel Partners has joined the firm's board. ON Networks said that it is delivering 25 original shows, with 400 current episodes. More information »