Internet TV firm Brightcove has raised $59.5 million in a ‘Series C’ funding round. AllianceBernstein LP, Brookside Capital LLC and Maverick Capital, Ltd led the financing. Also participating are Allen & Company, Hearst Corporation, Morgan Stanley and Allen & Company.
Brightcove founder and chief executive Jeremy Allaire said the funding would be used to expand the company internationally and further develop the monetisation of Internet content.
The Cambridge, Massachusetts company launched its consumer destination brightcove.com in October 2006. It has provided services to BSkyB, Discovery Communications, MTV Networks, Dow Jones, Warner Music Group and Reuters.