Inspiration meets innovation at Brandweek, the ultimate marketing experience. Join industry luminaries, rising talent and strategic experts in Phoenix, Arizona this September 23–26 to assess challenges, develop solutions and create new pathways for growth. Register early to save.
NEW YORK Brightcove raised an eye-opening $59.5 million in additional financing as it tries to establish a leadership role in the crowded online video sector.
The Series C round, led by AllianceBernstein, Brookside Capital and Maverick Capital, is earmarked for aggressive expansion plans in 2007, the company said. The funding comes on top of a $16.7 million Series B funding in November 2005.
“If the Google-YouTube deal was any indication, 2007 is clearly going to be a major year for online video, and also a year of consolidation as many of the hundreds of online video startups seek a place in the new ecosystem,” CEO Jeremy Allaire wrote on the company’s blog.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in