By Sahil Patel
VideoElephant, an Ireland-based startup that aggregates and sells online video content to digital publishers, has raised $1 million in a new round of funding. The round was led by ACT Venture and Enterprise Ireland, both of which contributed to an earlier $1 million round in the startup, as well as new investor Dublin Business Innovation Centre.
The new capital will be used to expand VideoElephant’s business across the pond, with plans to launch offices in New York and Los Angeles, as well as continued investments in the company’s European operations.
“Establishing our presence [in the US] will generate new content partnerships and extend our capability to provide end-to-end content solutions,” said VideoElephant founder and CEO Stephen O’Shaughnessy.
Founded in 2011, VideoElephant is one of several companies attempting to help digital publishers who want digital video content, but don’t have the resources to produce any of their own.
Other companies operating in this space include the San Francisco-based Vidible, which was co-founded by Tim Mahlman, a former VP of network sales at Yahoo and entrepreneur-in-residence at Greycroft.
VideoElephant’s exchange has more than 100,000 short-form videos and 15,000 hours of long-form content across 15 verticals, including news, sports, travel, and cooking. Publishers can grab this content — under licensing or revenue-sharing deals — and distribute on their sites.
Content providers feeding videos into the marketplace include the likes of AFP, National Geographic, ABC, Maker Studios, and Newsy.