Tuesday, January 16, 2007

Brightcove Secures $59.5 Million for Internet TV

Brightcove, a start-up based in Boston, announced $59.5 million in venture funding to support its rollout of Internet TV services. The company said the closing of its Series C financing round comes as it continues to experience significant growth following the October 2006 launch of the Brightcove consumer destination, syndication marketplace and broadband media network.

The funding was led by AllianceBernstein, Brookside Capital, and Maverick Capital. Additional investors included The New York Times Company (an early Brightcove customer), and Transcosmos Investments & Business Development, as well as all of the company's existing strategic and financial investors: Accel Partners, Allen & Company LLC, AOL, General Catalyst Partners, The Hearst Corporation, and IAC/InterActiveCorp.

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