PermissionTV, a white-label provider of branded web video channels, has raised $9 million in a Series C round. It seems to be a funding week for online video, with Kyte announcing new money Monday and EveryZing taking $10 million Tuesday.
Waltham, Massachusetts-based PermissionTV offers streaming Flash video while trying to upsell users of its customers’ sites to a downloaded app for higher-quality video. It plans to support Microsoft’s Silverlight later this year. PermissionTV’s specialty is dynamically adjusting advertising and content in response to a users’ selections and activities.
The company took money from Castile Ventures, Point Judith Capital, Common Angels, CramerOnline, Inflection Point Investors, the Massachusetts Technology Development Corp., SAS Investors, and the Venture Capital Fund of New England. It had previously raised another $9 million from mostly the same groups.
Though PermissionTV is perhaps old in online video funding years, with Series C rounds virtually unheard of, founder and president David Graves, a former SVP of media at Yahoo, says the company is young in online video product years, having only launched a year ago.
However, PermissionTV has a 30-plus customers, including Adobe, Fox’s myNetworkTV, Toyota Scion, Mitt Romney, and FHM Magazine. Graves brags that the 30-person company builds each site from scratch without design templates. It competes with The FeedRoom and Maven Networks, among others.