Brightcove Launched to Develop Online TV

Mar 01, 2005

Brightcove, Inc., has been unveiled as a new online television and video distribution company that will enable mainstream and emerging video content publishers and programmers can offer their products directly to consumers over the Internet. Jeremy Allaire, who was a co-founder of Allaire Corp (later sold to Macromedia), has gone public with his latest endeavor, an IP video startup called Brightcove formed to encourage democratization of video production and distribution. The Cambridge-based company was quietly founded in 2004 with a vision for the "transformation of television with the Internet."

Prior to founding Brightcove, Allaire worked as a technologist and "enttrepeneur-in-residence" for Gneeral Catalyst, a MA-based venture capital firm.where he worked on investments in broadband media, mobile content, ecommerce software, and digital identity. Before General Catalysit, Allaire was CTO of Macromedia. Brightcove has reportedly received $5.5 million of first-round venture funding from General Catalyst Partners and Accel Partners. The management team includes executives from Allaire, ATG, BSkyB, Comcast, Macromedia and News Corp. The consumer service is slated for release later this year.