By Sahil Patel
Epoxy, a social-video distribution and analytics tool, has raised $6.5 million in a Series A round led by Upfront Ventures and Time Warner Investments.
The financing, which comes a month after Epoxy launched out of beta, will go toward expanding the company’s headcount. The Venice-based startup currently employs 15 full-time staffers, but has plans to add people to its sales and marketing teams.
Epoxy is a tool designed to help independent creators on YouTube, as well as larger organizations like MCNs, traditional networks, and advertisers, distribute videos across YouTube, Facebook, Twitter, and Instagram. The tool also allows clients to track what people are saying on these social networks — even when their channel or username isn’t directly referenced.
This isn’t the first digital video-centric company that Upfront and Time Warner Investments have put money into. Both firms also backed Maker Studios, which earlier this spring sold to Disney for a tidy sum. (Last week, Upfront made its next bet in the MCN space, leading a $10 million Series B round for MiTu.)
“Online video is growing extremely quickly, and social and mobile are key drivers. We were drawn to Epoxy because they are unique in focusing on the role of social and the importance of fan engagement to long-term success,” said Scott Levine, managing director at Time Warner Investments, in a statement. “Epoxy is prime to meet both the current needs of online video creators and the increasing social and video needs in traditional media.”
Previous investors in Epoxy include Bertelsmann Digital Media Investments, Advancit Capital, Greycroft Partners, and Robert Downey, Jr.’s Downey Ventures, which grouped together to pump $2 million into the company in 2013.