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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.
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