Internet VOD company Akimbo has raised a third round, this time for $15.5 million. Giving the company a strategic as well as financial boost, the lead investors for this round were AT&T, which has a deal to provide Akimbo to Homezone users, and Cisco, which now owns Scientific Atlanta (set-tops) and Linksys (network hardware). Blueprint Ventures also joined the roster of investors; existing investors include Draper Fisher Jurvetson, Kleiner Perkins Caufield & Byers, Sprout Group and Zone Ventures. We’ve heard that the round was oversubscribed by at least one million.
Akimbo CEO Joshua Goldman: “Cisco and AT&T are emerging as two of the most innovative companies in the world in terms of creating new ways for video to reach consumers.  Their strategic insight and extensive resources will help bring Akimbo’s content and service into millions of homes on a variety of devices.”
The company’s second round was almost exactly two years ago; Akimbo raised $12 millio led by Kleiner Perkins. The first round was $4.25 million. With a total of $31.75 million in funding, Akimbo better sell a lot of subscriptions.
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