Brightcove Raises $59.5 Million in Series C Round

Jan 23, 2007

Brightcove has closed a $59.5 million funding round designed to allow the internet TV company to accelerate international expansion. Led by AllianceBernstein L.P., Brookside Capital LLC, Maverick Capital, Ltd., the funding round also includes investments from The New York Times Company, and Transcosmos Investments & Business Development, Inc., as well as all of the company's existing strategic and financial investors: Accel Partners, Allen & Company LLC, AOL, General Catalyst Partners, The Hearst Corporation, and IAC/InterActiveCorp. Morgan Stanley and Allen & Company served as placement agents for the financing. The new financial investors give Brightcove broad access to global capital markets as the company grows.