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Internet Video Provider PermissionTV Closes $9 Million Third Round

Online video solutions provider PermissionTV has closed a $9 million third round financing. The round was led by two new investors, Castile Ventures and Point Judith Capital, who join existing investors Common Angels, CramerOnline, Inflection Point Investors, the Massachusetts Technology Development Corp., SAS Investors and the Venture Capital Fund of New England. The funding will go towards hiring additional sales staff and pay for development costs related to upgrading its technology platform. The company has raised a total of $18 million in funding. It was founded three years ago by David Graves, who previously worked as SVP of Media at Yahoo. In the past year, the Waltham, MA-based company, which is positioned as a competitor to companies like Brightcove, has added 30 clients, including Fox Interactive Media, Agency.com and Toyota.

Disclaimer: PermissionTV has been a sponsor of paidContent.org.

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