Two new investors have sunk an additional $30 million in online video site Metacafe. Highland Capital Partners and DAG Ventures join several existing investors in the site, which attracts 25 million unique visitors each month.
The cash will be used to fund global growth and to expand the depth of content available through the site’s Producer Rewards program and through partnerships with well known media companies.
Richard de Silva of Highland Capital said:
Metacafe is defining the next generation of online video, moving away from simple video sharing and hosting to delivering an exceptional entertainment experience for short-form content. Its sophisticated approach to audience-driven programming is unique in the industry.
The funding also adds two new directors to Metacafe’s board and sees one of the company’s original founders, Arik Czerniak, step away from his day-to-day management duties. Czerniak will remain on the board as a strategic consultant, but is looking to pursue other endeavours full time.
With the new funding, Metacafe is striving to deliver a unique and leading online entertainment experience and is determined to differentiate itself from the likes of YouTube, Dailymotion and MySpace.
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