Raises $10.1M in Third Round of Financing, a New York-based open video network that hosts and distributes web-based TV shows, closed its $10.1m third round of financing.
The investment was led by Canaan Partners and existing investors Bain Capital Ventures.
The company will use the funds to accelerate the growth of the independent shows that it hosts and distributes, expand its content services team, continue to grow its international advertising sales force and develop new products for viewers and producers. currently serves more than 50,000 original Web shows, which range from scripted sitcoms and dramas to news and how-to programs. The platform hosts and syndicates shows to iTunes, YouTube, Vimeo, AOL Video, Verizon FiOS, TiVO, Sony Bravia, The Roku Digital Video Player and Facebook.

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