CastTV Reels In $3.1M from DFJ

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Online-video-search service CastTV secured $3.1 million in financing through a series-A investment led by venture-capital firm Draper Fisher Jurvetson.

DFJ managing director Warren Packard joins CastTV’s board of directors as part of the agreement.

“The exponential growth of online video has exceeded all expectations, and there is a huge opportunity for a company to bring order and organization to the video Web,” Packard said. “CastTV's superior technology and team will allow it to emerge as a leader in video search and discovery.”

The search service said it also signed a two-year deal with a major media corporation to provide online-video crawling and indexing technology.

CastTV plans to beta-launch next month, followed by a full consumer launch this summer.

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