Buzzwire, a Denver-based mobile video and audio startup, closed $8 million in Series B funding last week. The money came from new investor Sequel Venture Partners and existing investors Matrix Partners and Spark Capital, bringing the total the company has raised to $12 million.
Buzzwire aims to sell a subscription audio and video service through mobile carriers. The company says it’s signed its first such partner (it wouldn’t disclose who, exactly), with a launch date set for next year. The service is focused on content consumption, primarily of video that can be found around the web — and does not incorporate mobile uploads. Buzzwire is also working on a free, advertising-supported service that would have more limited content.
The company’s free trial of its product has been oversubscribed, Buzzwire CEO Andrew MacFarlane told us in an interview last week. He said it became especially evident during the trial that mobile users want short content, with their average consumption time being two minutes and 10 seconds. Typical testers used the service to keep track of news with specific keywords they had subscribed to via the web interface, or tuned in to find out what the hot video of the day was.
Buzzwire emphasizes sharing as a way to find content rather than search. Users can share specific video and audio streams with friends who are not subscribers.
The company, formerly known as 4th Media, has 18 employees between Colorado and Boston. Competitors include Rhythm New Media and MyWaves.
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