Internet-video startup Brightcove scored $16 million in financing from America Online Inc., InterActiveCorp, Hearst Corp., Allen & Co., Accel Partners and General Catalyst Partners.
The Cambridge, Mass.-based company -- which is looking to make a business of distributing video content via the Web for independent producers and established media players -- also announced a content-distribution deal with AOL.
Brightcove -- which is also offering to handle ad-sales operations for video producers -- said its distribution deal with AOL will give video publishers using Brightcove the option to syndicate their content directly to AOL.com (www.aol.com) next year. The companies said they will also market a co-branded version of Brightcove as “the self-service platform for publishing video on AOL.com.”
IAC chairman Barry Diller has also joined Brightcove’s board of directors.