Whipclip, a Santa Monica, Calif., and Tel Aviv, Israel-based mobile platform that allows consumers to legally create and share their own video clips of television shows and music videos, raised more than $40m in the initial closing of its Series C financing.
The round was led by Eminence Capital, LP, a $6.4 billion asset management firm, with participation from existing investors Institutional Venture Partners and Raine Ventures. As part of the financing agreement, Eminence Capital will join Whipclip’s the Board of Directors.
The company intends to use the funds to accelerate product development and further build its operations and content partner relationships.
Founded by Richard Rosenblatt and Ori Birnbaum in 2014, Whipclip allows fans to create and share clips from their favorite TV shows such as Bob’s Burgers, Dancing with the Stars, Duck Dynasty, Inside Amy Schumer, The Late Late Show with James Corden, The Last Man On Earth, Love & Hip Hop, Married at First Sight, NCIS: Los Angeles, New Girl, Once Upon a Time, The Talk, UnReal, Workaholics, etc.
Existing collaborations include television networks ABC, CBS, FOX, Turner, Viacom, A+E Networks, Bloomberg, Fusion, OWN, and Pop, and major music companies Universal Music Group and Sony Music.
Whipclip’s other investors include William Morris Endeavor, Ziffren Brittenham, Greycroft, as well as leaders of the media community including Ari Emanuel, Peter Guber, Steve Bornstein, Scooter Braun, Gordon Crawford, and Ron Zuckerman.