Divx.com has announced its latest round from Insight Venture Partners. The company now has raised approximately $55 million in total VC funding since its 2000 inception.

Divx is now omnipresent with pretty much all digital movie downloads. While many tried to invade the territory including Microsoft it could prove an edge as more and more video moved online.

The company has an interesting story about its founding right there on its corporate homepage:

"The history of DivX, Inc. and the DivX phenomenon begins with the original release of the DivX� video compression technology, developed by J�r�me Rota (aka "Gej") in September 1999. Within hours of the time Gej first posted the codec on his personal website, the technology proved extremely popular and garnered tremendous grassroots support, quickly earning the moniker "the MP3 of video."

In early 2000, Jordan Greenhall, a former executive at MP3.com, contacted Gej and suggested building a company around the popular DivX� technology. Gej agreed, and with additional founders Joe Bezdek, Tay Nguyen and Darrius Thompson, they started DivX, Inc.

In September 2000, the company closed an initial round of investment led by Zone Ventures of Los Angeles, California and including several other members of the Draper Fisher Jurvetson family of funds (as well as a personal investment from Tim Draper himself).

The DivX, Inc. team has since built a profitable and thriving business around the world's best video technology, focusing on different lines of business including consumer electronics, multimedia software, and video-on-demand. In 2003, 2004 and 2005, DivX, Inc. was recognized as one of the Top 100 private companies in the world by Tony Perkins's prestigious AlwaysOn organization."

Sounds like fun!