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Brightcove Completes New Financing Round

Published on April 5, 2010
by Jessica E. Vascellaro

Brightcove Inc., already a well-funded player in online-video management, raised what could be its final financing from private investors, as money continues to pour into companies that provide services to distribute Internet video.

The Cambridge, Mass., company received $12 million in new funding and expects to go public as soon as next year. It hopes the funds will consolidate its lead among firms that help companies post and manage videos to their own and others’ sites.

Competition is heating up. Last week Google Inc. (GOOG) purchased Brightcove rival Episodic Inc. for an undisclosed sum. ThePlatform, owned by Comcast Corp. (CMCS), is targeting large media companies, and Ooyala Inc., a Silicon Valley startup that has raised $20 million, also is going head-to-head with Brightcove, landing customers including Warner Bros. and General Mills Inc. (GIS).

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