It's a huge milestone day for Brightcove, as we announce the completion of a major round of private financing for $59.5M.  The financing represents a huge vote of confidence in the Internet video marketplace, as well as specifically for Brightcove as a leader in the Internet TV revolution.  You can read the formal press release here<

Today we made three big announcements:

1) We raised $16.2 million in a Series B financing round that was lead by America Online, Inc., IAC/InterActiveCorp, The Hearst Corporation, and Allen & Company LLC as well as our existing venture partners Accel Partners and General Catalyst Partners.

2) Barry Diller, CEO of IAC/InterActiveCorp and Chairman of Expedia, Inc. joined our board of directors.

3) We signed a ground-breaking syndication and distribution agreement with AOL.