Bightcove Wins $59.5 Million in Venture Capital Funding

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Bightcove Wins $59.5 Million in Venture Capital Funding

7:00 am on January 20, 2007 | Category: Business, Web Services, Television, Software

Internet video firm, Brightcove, has just received $59.5 million in venture capital funding, with which it hopes to develop new services for advertisers, build out its consumer website, and expand its video services internationally.

The new funding is being put up by a number of investors, including AllianceBernstein L.P., Brookside Capital LLC, Maverick Capital Ltd., and The New York Times Corporation, which became one of Brightcove’s first customers early last year.

“Video is an important part of our future and Brightcove clearly has a very good opportunity to be a player in that future,” commented The New York Times Company’s vice president of corporate planning, Stephen Hirsch.

In 2006, Brightcove secured deals with a number of major media companies, including Sony BMG and Warner Music, and launched its own IP video syndication service. It has consistently showed potential as a innovator in this rapidly emerging market, and obviously managed to win the approval of many venture capitalists in the process.

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The most difficult question before you when you plan to start any new business or wish to expand an already existing business is how to raise capital to fund your business. There is no doubt about it that the task is difficult however, you can manage it when you follow certain set rules for this purpose. Venture Capital

Comment by Brown — September 13, 2007 #