A startup named LiveTimeNet Inc., of Savage, Md., has filed to raise $5 million in its latest round of financing efforts, according to Securities and Exchange documents.

LiveTimeNet, which was founded in 2007, specializes in Internet video content transport and delivery, using its own nationwide managed IP network, according to its website.

It boasts that its service outperforms both satellite and terrestrial transport services. The firm has two patent applications for its technology. And it's raised millions in financing over the last two years. In its latest round of financing, LiveTimeNet is seeking to raise $5 million in equity, and has already raised $1.37 million.

Last year, it raised $3.5 million in equity financing. And in 2009, it raised $2.5 million, according to SEC filings.

Clearly, somebody sees something special in this company, which currently appears to consist of three executives: Malik Khan, co-founder, chief strategy officer and chairman of the board of directors; Yousef Javadi, co-founder, chief executive officer and president; and Professor Yair Amir co-founder and chief science officer.

All three men appear to be experts in broadband communications networks, and Amir is also a professor of computer science at Johns Hopkins University. Any companies out there using LiveTimeNet's services?