It’s funding season again for web video companies, but at this stage you’re not going to get in for cheap. The FeedRoom is one of the oldest companies in the space (founded in 1999!) and thus one of the first to morph its business model from being a destination to a white-label video tools provider. The company announced today it raised $12 million in a round led by NewSpring Capital and including previous investors BEV Capital and Velocity Equity Partners. This brings its total funding at least $66 million in venture and debt.
The FeedRoom, which has been through a bit of an overhaul after hiring a new CEO last September, said it would use the new funding “to accelerate sales” and to develop the next generation of its platform. Its current customers include General Motors, Hewlett-Packard, Intel, Barnes & Noble, The New York Times, USA Today, ESPN, the State Department, the Pentagon, and the Marine Corps. It has recently been focusing on accessible video for disabled users.