Develops advanced set-top boxes for digital television.
Information Technology, Consumer Technology
NEA Board Members:
Mike Ramsay and his partner Jim Barton (now TiVo's CTO) had an idea for
the next generation of television. A vision that would ultimately
change the way millions of viewers watch TV.
Why We Invested
When Mike left Silicon Graphics, he looked up his former boss, Mark
Perry, a General Partner at NEA. Mark listened to Mike’s ideas. Made a
few introductions. And provided a bit of guidance.
When Mike returned to NEA for funding, the response was to
their technology was enthusiastic to say the least – the comment that
summed it up best was, "I've always wanted one of those!" NEA's belief
in both the technology and the executive team was vital. A strong
believer in both, NEA led the investment in TiVo.
Today, TiVo is the undisputed leader in television services for digital
video recorders (DVRs). Their leadership has defined and inspired an
entire category, earning the company patents for pioneering inventions
associated with DVR software and hardware design. TiVo has built a
loyal and passionate subscriber base with over 97% of their customers
recommending TiVo to a friend and many seeing the product as a true
Why It Worked
In part, it’s people – knowing the right people, choosing good partners
and having faith in the management team. Of course, it’s also about
financing – the right investment at the right time. But for TiVo, it’s
also about vision – for an entire new category and a true revolution in
how television is experienced. Mark Perry continues to sit on TiVo's
Board of Directors. His vision for what could be and his solid advice
continue to fuel the growth and direction of the company.
What The Entrepreneur Says
One of the cool things about working with NEA is the way they
participate at the board level. They are so strategic that the real
value-add has become their investment of time and ideas. From the top
on down and from the beginning right through today, NEA has been a
consistent supporter of TiVo. They're everything we could have ever
wanted in a partner, giving time and energy to help make us a success.
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