Online Video Tools Firm Magnify Gets $1.2 Million

Magnify Networks, an online video tools firm, has received $1.2 million in its first round of funding. The round was co-led by New York Angels and by NextStage Capital. Other investors in the round included Chris Anderson, Curator of the TED Conference, Active Angel Investors of Washington, DC, and Stage 1 Ventures. The company’s service allows publishers to create their own branded online video channels…there are tons of competitors in this space, though.
CEO and founder Steve Rosenbaum was previously the creator of MTV News UNfiltered.