Newport Media Nets $30 Million

Newport Media Inc., a Lake Forrest, Calif.-based fabless semiconductor company supplying products to the mobile broadcast media market, has raised $30 million in Series C funding. DAG Ventures led the deal, and was joined by return backers Benchmark Capital, Global Catalyst Partners, Oak Investment Partners, Pinnacle Ventures and Venrock Associates. Newport Media has raised more than $66 million in total VC funding since its 2005 inception.