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Tuesday, July 25, 2000

RIOPORT GETS $31.5 MIL IN FUNDING

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New Investors From Hardware Market Want Next Rio Player To Include Nail Puller, Stud Finder
Digital audio platform developer RioPort has closed on $31.5 million in second-round financing. Among the company's new investors are potentially strategic partners in the hardware market.

First-time backers include information storage company EMC Corp., Quantum Technology Ventures (the investment arm of PC disc drive maker Quantum Corp.) and Japanese conglomerate Mitsubishi Corp., which has a division providing digital audio financial payment clearinghouse services, according to Webnoize.

First-round investors returning for this second round included digital audio player maker S3 Inc., Vulcan Ventures Inc. and Oak Investment Partners.

The latest round brings San Jose, CA-based RioPort's total financing to $61.5 million. Last October, it closed on $30 million.

RioPort develops a digital audio platform that supports playback of both open and secure Internet music files. The company today released an updated version of its Media Device Manager to include support for Microsoft Windows Media Player 7. The application also supports the Macintosh and Linux platforms.

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