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PeerApp Raises $3 Million for P2P Video

PE Week Wire reported this week that PeerApp, the Newton, MA-based peer-to-peer (P2P) video distribution startup that we covered on December 12, has collected $3 million in new venture funding. The round was led by existing investors Pilot House Ventures, Evergreen, and Cedar Fund. The company’s proprietary server technology helps Internet service providers mitigate the drain on bandwidth when customers download video over P2P networks such as BitTorrent.

Wade Roush is Xconomy's chief correspondent. You can e-mail him at wroush@xconomy.com, call him at (617) 252-7323, or follow him on Twitter at http://twitter.com/wroush.

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