What Is Brightcove Doing With A Total of $81.2 Million Funding?

Brightcove LogoThe return on investment made on YouTube’s funding through the acquisition definitely has whetted the appetite of investors. YouTube took in two rounds of funding from Sequoia Capital for a total of $11.5 million. So how come Brightcove, a lesser known Internet TV website is receiving such substantial funding? Brightcove started with $5.5 million and then received $16.2 million. Today, it was announced that Brightcove raised $59.5 million. This comes to a total of $81.2 million of total funding. The investors include Maverick Capital, The New York Times Company, Transcosmos Investments, Accel Partners, Allen & Company, America Online, General Catalyst Partners, The Hearst Corporation, IAC (InterActivCorp), and Brookside Capital.

“We think there’s a lot of opportunity outside the United States for Internet TV,” stated Adam Berrey, the VP President of Marketing of Brightcove. “We think this market will consolidate. It’s time for the leaders to emerge. This puts us in a good position.” Berrey didn’t mention what Brightcove is planning on doing for future plans, but according to TechCrunch, Brightcove did acquire metaStories on March 20, 2006. metaStories is a Seattle based company that has the tools that creates Flash content.

“Brightcove’s early success in partnering with media companies that are driving the transition of television and video distribution to the Internet puts the company in the right position as Internet TV takes off on a broader scale,” stated Jamie Kiggen, senior VP President of AllianceBernstein. “We’ve looked at many opportunities in this area and believe that Brightcove is well positioned for success in creating solutions that both media companies and consumers will embrace.”

With this new funding, Brightcove plans on growing the company and to provide Internet TV tools to media creators so that it would help them monetize as well as distribute their own videos. Brightcove is planning on launching ad revenue sharing soon.

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at

What Is Brightcove Doing With A Total of $81.2 Million Funding? Comments

  1. Eric C. says:

    Hopefully that money is to pay tv companies to promise revenue. Seems like youtube used the money of google to make things right…

  2. gz says:

    The new money is dangerous – may enable them to continue to wear too many hats – but they are well positioned to be a big player in this huge space. Blogged more over at NextBlitz.

  3. Amit Chowdhry says:

    Both very good points Gz and Eric. While new money is very dangerous and expectations for Brightcove to really take off intensifies, this new found money should be able to convince TV companies to partner up.

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