Feedroom, which is one of the oldest video companies on the Internet, having launched in 1999, has secured another round of funding, bringing the total investment in the company to a minimum of $66 million; including debt.
The company offers corporations the tools to "easily create, control and distribute Web Video to all of your corporate communities and audiences."
According to the company, they offer services from "video production and site integration, to encoding, content management, streaming and detailed reporting."
The latest round of financing will primarily be used to move its existing video platform to the next generation, as well as increase sales. Part of that will include hiring of people for product development and sales.
Some of the existing clients of the company include ESPN (NYSE: DIS), the State Department, Hewlett-Packard (NYSE: HPQ), General Motors (NYSE: GM) and USA Today.
CEO and President Mark Portu was installed 10 months ago to accelerate sales and put together a new leadership team.
Leading the financing was NewSpring Capital, which was joining by current investors BEV Capital and Velocity Equity Partners.
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