Ibiquity Digital’s non-broadcast investors, which constitute the bulk of its backing, have ponied up some big bucks. The technology developer has gone back to Wall Street investors and raised another $30 million.
Ibiquity confirmed it closed the new Series C financing from existing investors New Venture Partners, Grotech Capital Group, J.P. Morgan Partners, Gannett Co. and Pequot Capital.
Waller-Sutton Media Partners, Whitney & Co. and MidOcean Capital Partners also participated in the financing.
Separately, Ibiquity completed a separate financing package with the Washington-based Columbia Partners L.L.C. for up to $30 million in additional structured debt financing.
Ibiquity has now raised a total of about $175 million; it said the new money would “reinforce the significant momentum” of HD Radio, along with recent commitments from more than 2,000 radio stations to deploy IBOC.
Ibiquity Goes Back to Wall Street for Financing
Ibiquity Goes Back to Wall Street for Financing
