Brightcove closes big funding round

Brightcove announced today that is has closed its series C round worth $59.5 million. The investment round was led by AllianceBernstein L.P., Brookside Capital, Maverick Capital, and was also participated by NYT, and Transcosmos Investments & Business Development, Inc., and Brightcove’s existing investors Accel Partners, Allen & Company, AOL, General Catalyst Partners, The Hearst Corporation, and IAC. Closing of this financing round brings the total investment for Brightcove to $81.2 million.

In the background Brightcove team has been working hard in building a broad media syndication platform. Brightcove has done deals with most of the major media and publishing companies including Warner Music, AOL, Dow Jones, MTV, Lycos, Sony, TiVo, NYT, and few more that enables easier media syndication for consumers. In October Brightcove had launched Brightcove Network, that lets any content owner to launch a commercial Internet video channel. Content owners can take advantage of this service and generate revenue through advertising and video download sales. 

Personally I still feel that Brightcove gives a large media company like look and feel instead of a consumer destination site. From the Brightcove PoV it is great to do big syndication deals, but it can end up alienating users who might not be able to associate themselves with the service. I am not sure how much things have changed on the consumer growth side since the launch of the Brightcove Network.

Links:
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3 Responses to “Brightcove closes big funding round”

  1. Jason M. Lemkin Says:

    Wow. YouTube is a rising tide …

  2. StartupSquad » Blog Archive » Brightcove to track viral-video spread with Visible Measures Says:

    […] Brightcove is working with video analytics startup Visible Measures to enable its content publishers track spread of videos all over the web. Visible Measures analytics platform tacks and analyzes audience engagement with videos to determine the advertising sweet spots and experience customization. As part of the partnership, Visible Measures will be working with number of Brightcove’s clients to test its analytics package. […]

  3. StartupSquad » Blog Archive » BrightCove to stream CBS content Says:

    […] Even otherwise BrightCove has no dearth of content since it has been on partnership spree for quite sometime that now includes deals with the likes if Warner Music, Dow Jones, AOL, NYT, and more. Besides that BrightCove has raised $81.2 million in 3 rounds of funding, which means lot of money to backup it’s deal making. While deals would definitely deciding factor moving forward, we still need to remember that Youtube had hardly done any before the $1.6 billion exit. Right now I am not sure where BrightCove stands, but one thing is for sure, it is nowhere near Youtube viewership. Tags: […]

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