BitTorrent wins US$20m in funding

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BitTorrent wins US$20m in funding

Accel Partners stumps up the cash.

The company behind the popular BitTorrent peer-to-peer digital content delivery platform has announced that it has won US$20m in additional financing.

New investor Accel Partners led the funding round with participation from initial investor DCM.

The money will support BitTorrent's growth, helping the company to realise its plans to provide an online destination for downloadable entertainment content through the marketplace.

BitTorrent also hopes to employ the technology to power other websites with its content delivery service.

"When I created BitTorrent in 2001, my mission was to solve the problem every website has when distributing large, popular files," said Bram Cohen, chief executive and co-founder of BitTorrent.

"This mission is still what drives BitTorrent today and could not be more relevant as the web grows into a channel for consuming large, high-value entertainment and information content."

BitTorrent agreed partnerships last week with a variety of leading film studios including 20th Century Fox, G4, Kadokawa Pictures USA, Lionsgate, MTV Networks, Palm Pictures, Paramount Pictures and Starz Media.
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