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BrightCove raises $5M in a new round of funding - Cambridge, MA
Cambridge's BrightCove Inc., a developer of an open Internet TV service for video producers and programmers, has secured a new round of growth capital financing worth $5 million. GE - Global Media & Communications, a division of GE Commercial Finance, led the round, which closed on September 1.
BrightCove's previous round of funding, its second, came last November, when it landed $16.2 million from America Online Inc., IAC/InterActiveCorp., Hearst Corp. and Allen & Company LLC. The new round of funding brings the company's total amount raised to $26.2 million.
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