Video site Metacafe announced it has raised $30 million in Series C financing. The round was led by new investors Highland Capital Partners and DAG Ventures. Existing investors Accel Partners and Benchmark Capital also participated. The money raised will be used to support the company’s global growth, including expanding the breadth and depth of content – from emerging video creators through the Producer Rewards program and through partnerships with established media companies.
With their firms’ investments, both Richard de Silva of Highland Capital Partners and Tom Goodrich of DAG Ventures will join the Metacafe board of directors. With the close of this round, co-founder Arik Czerniak will step away from day-to-day operations to pursue other entrepreneurial endeavors but will remain on the board and continue to advise the company on strategic matters.