Brightcove Raises $59.5 Million in Third Round - Cambridge, MA

Brightcove, a Cambridge-based Internet TV service for video producers and programmers, has raised $59.5 million in its third round of venture capital, led by AllianceBernstein, Brookside Capital and Maverick Capital. "This investment in Brightcove will enable us to grow our business at a critical juncture in the adoption of Internet TV," said Jeremy Allaire, who founded Brightcove in 2004 and serves as its CEO. "With the new funds we will be expanding internationally, deepening our service offering to give media partners better tools to distribute and monetize video online, and empowering consumers to interact with that content in exciting new ways." Other investors in the deal include The New York Times Co. and Transcosmos Investments & Business Development, as well as all of the company's existing strategic and financial investors.

http://www.brightcove.com