VideoElephant Secures $1M in Funding

videoelephantVideoElephant, a Dublin, Ireland-based startup which aggregates and sells online video content for websites, secured a further $1m in funding.

Backers included a new stakeholder, the AIB seed capital fund DBIC (Dublin Business Innovation Centre).

The company intends to use the funds to supports development in Dublin, and expansion into New York and Los Angeles.

Founded in 2011 by Stephen O’Shaughnessy, CEO, VideoElephant sources, aggregates and sells video content to web publishers who are looking to generate advertising revenue from online content by collating premium content from multiple producers, genres and categories into a single accessible digital marketplace.
The company also partners with ad networks and tech companies to offer the video, the technology and the monetization under both license fee and revenue share models.
VideoElephant launched its website in 2013 with a content library of videos from blue chip providers including AFP, National Geographic, ABC, VideoJug and Press Association. A year on the company has added, amongst others, ITN, Maker Studios and Newsy. It currently stocks over 100,000 short-form videos and 15,000 hours of long-form content, across 15 genres from news and sport to travel and cooking.

In December 2012, the company had received a $1m investment from ACT Venture Capital and Enterprise Ireland.

FinSMEs

23/10/2014

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