Myrio

About Myrio

Myrio Corporation operated as a key provider of Internet Protocol Television (IPTV) solutions, catering specifically to telecommunications providers aiming to integrate video into their service offerings.

The company was established on December 1, 1999, by founder Eddie Drake, who also served as the CEO. Myrio was headquartered in Bothell, Washington. The firm's core business involved providing middleware and applications that enabled the delivery of video content over broadband networks. Its business model centered on an open standards-based architecture, which was a significant selling point. This approach allowed for interoperability between essential components from different manufacturers, such as set-top boxes and access network hardware, as well as third-party applications. This flexibility offered telecommunications clients a more adaptable and non-proprietary path to launching television services.

Over its operational history, Myrio successfully raised a total of $50.8 million in funding across five rounds, with its final Series B round on November 13, 2003, securing $9 million. The company attracted investment from venture capital firms including AHVP, NeoCarta Ventures, and Ridgewood Capital. A pivotal moment in the company's history occurred in April 2005, when it was acquired by Siemens Communications. The acquisition was a strategic move by Siemens to bolster its own Home Entertainment Solution for the growing IPTV market. Following the acquisition, Myrio became a division within Siemens. The company is now considered deadpooled.