Brightcove announced the completion of a major strategic financing round, a groundbreaking video content distribution partnership with AOL, and the appointment of Barry Diller, Chairman and CEO of IAC/InterActiveCorp and Chairman of Expedia, Inc., to the Brightcove Board of Directors.
AOL, IAC/InterActiveCorp, The Hearst Corporation, and Allen & Company LLC have joined with existing Brightcove investors Accel Partners and General Catalyst Partners to invest $16.2 million in Brightcove. The investments complete a Series B financing round that will fuel the company's growth and the launch of its products and services.