Movieclips, now named Zefr, will use the extra cash to expand into new content areas
Movieclips — a video catalog site that helps studios collect and monetize fan and professional postings on YouTube — has secured $18.5 million in funding and changed its name to Zefr, the company announced Wednesday.
The Venice-based startup is also adding new content categories, expanding into television, music and sports, after a major cash injection from a third funding round led by U.S. Venture Partners, a venture capital firm.
“As movie fans ourselves, this was a logical place for us to focus when we set out to create a content network,” Zach James, Zefr's co-founder, said in a statement. “Since then, we have built a network that brings the best movie content in the world to YouTube – something we believe has significant value for consumers and advertisers alike.”
The company has already raised $10 million from venture firms including MK Capital, Shasta Ventures and Richmond Park Partners.
It used the initial cash to fund its early curation efforts and develop the technology it offered to major Hollywood studios to claim, tag and assemble licensed content posted on YouTube and allow advertisers to buy against premium movie content.
Zefr was founded in 2009 by James and Richard Raddon and quickly became one of YouTube's most-watched channels.