Veoh Goes for the Big Money

Veoh has raised $26 million in Series C funding, according to peHUB, with Goldman Sachs leading the round and Spark Capital and Shelter Capital Partners upping their stakes. peHUB thinks it’s likely Michael Eisner’s Tornante and Time Warner Investments participated as well. San Diego-based Veoh has raised more than $40 million in total.

peHUB makes a big deal about the amount, which we’ll grant is huge, saying “it dwarfs what Veoh’s competitors have raised.” However, Veoh, which has always had a desktop client component, is developing technology that would put it in competition with Joost and Babelgum. Joost recently raised $45 million in one round alone, and Babelgum has taken $13.2 million (in personal funding; see comments below).

A Veoh spokesperson as much as confirmed the round when we called him this morning. We are waiting official comment. Veoh told us yesterday its user base is now 12.5 million, up from 4.4 million in February.

Veoh Dmitry Shapiro emails to say,

“This is an extremely exciting time for Veoh. We are not ready to disclose all of the specifics due to ongoing discussions with a number of strategic partners. Once all details are finalized, we will announce the full scope of this major company news.”

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