Online Video Tools Platform Magnify Closes $1 Million Funding

Online video tools firm Magnify.net has raised $1 million in its second round from existing investors Next Stage Capital, New York Angels, Rose Tech Ventures, Active Angel Investors, Chris Anderson and other individual investors. Joining this round were new investors Ogden Capital and Gideon Gartner, founder of The Gartner Group. The New York City-based site video publishing and video ad network platform, and competing against tons of others in the space. Magnify, which says it now hosts over 31,000 channels, will use the funding to expand customer acquisition efforts, increase its staff and continue to develop and improve its technology. It closed its first round funding of $1.2 million last year.