Tuesday, June 3, 2008

Veoh Networks Raises $30M

Los Angeles- and San Diego-based Veoh Networks said Tuesday afternoon that the firm has raised $30M in additional funding, in a round led by Intel Capital. The firm said that Adobe Systems Incorporated and Gordon Crawford, Senior Vice President of Capital Research Global Investors, also participated, in addition to the firm's existing investors. The company said the new funding round will go towards enhancing its viewer offerings, expanding its advertising products, and for extending its service across multiple platforms. The company's existing investors--Shelter Capital, Spark Capital, Goldman Sachs, Michael Eisner’s Tornante Company, Time Warner Investments and Jonathan Dolgen--also participated in the round. Veoh operates an online, user-generated video sharing and Internet television service. More information »