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Andover, MA (December 17, 2002) – Gotuit Media, Corp., provider of segment navigation software and indexing services for the digital TV industry, announced today that it has received $6 million in financing led by Highland Capital Partners, with participation by individual investors. As part of this round, Highland's Dan Nova and Martin Mengwall have joined Gotuit's Board of Directors. The investment funds will support the expansion of Gotuit's video indexing services and the ongoing integration of its software into video on demand (VOD) systems.

"Highland chose to invest in Gotuit because of its visionary product offering, strong industry mindshare, and seasoned management team. Gotuit is well positioned to become the leader in the emerging on-demand TV market by offering users a unique means of intelligently navigating stored content through the use of an index," said Dan Nova, managing general partner at Highland. "We believe that Gotuit will be the company that brings the power of metadata navigation into viewers' hands, creating an entirely new way to watch TV."

Gotuit Media is dedicated to enabling intelligent navigation of time-shifted TV and on-demand video content. Its flagship offering, Gotuit On DemandT, is a patented indexing solution that merges metadata with digitally recorded video content, thereby allowing consumers to quickly access the parts of a show in which they are the most interested. Gotuit works with cable and satellite operators and content producers to enable viewers to "slice and dice" stored content with existing remote controls. Gotuit is currently in trials with a major, US-based cable operator and is working with several providers of on-demand delivery systems and digital set-top boxes.

"VOD can be much more than simply controlling when you watch a program. With the addition of Gotuit On Demand, you can control how you watch a program as well. You can traverse it at your own pace, watching and re-watching only segments of interest, and in essence personalizing the playback of TV programming," said Jim Logan, CEO of Gotuit Media. "Highland is very well respected in the digital cable space, and their investment and expertise on our board will be invaluable in helping Gotuit achieve our goal of radically changing how people consume on-demand content."

With Gotuit On Demand users can view multiple types of content in new ways. In the case of time-shifted news, viewers can jump to the next story by merely hitting the "Next" button. In the case of a variety show, viewers can use the on-screen show index to go straight to an interview or musical guest. And for on-demand sports programming, fans can use Gotuit On Demand to view a condensed version of the game, watch highlights of their favorite player, or focus on key moments. Gotuit brings an entirely new dimension to the viewing of time-shifted content - one that lets viewers find and navigate to the best parts of a program.

About Gotuit Media

Gotuit Media, Corp., provides software and indexing services that enable the intelligent navigation of time-shifted video content. Gotuit holds a broad portfolio of patents in the time-shifted video space, including several landmark awards concerning video metadata. Founded in 1999 by Jim Logan, Gotuit Media is privately held and funded by Highland Capital Partners, Motorola and other investors. Additional information can be found on Gotuit's web site at www.gotuit.com.

About Highland Capital Partners

Highland Capital Partners is an early-stage venture firm focused on building companies in the communications, information technology and healthcare markets. Founded in 1988, Highland has invested in and worked to create such firms as Altiga Networks, Avid Technology, CheckFree, EXACT Sciences, HighGround Systems, Lycos, MapQuest, Ocular Networks, Odyssey Healthcare, Sybase and WebLine Communications. For more information, visit Highland's web site at www.hcp.com.

 

Media Contacts:

David Laubner
Gotuit Media Corp.
E-mail: dlaubner@gotuit.com
Phone: 781.970.5432