Live-streaming service Mogulus has raised $10 million in funding from news giant Gannett. TechCrunch first wrote about the story, and our sources corroborate that figure. Mogulus had raised $1.2 million in seed funding in May of last year and another $1.5 million in January of this year.
Gannett signed on to use Mogulus’ services in April and the partnership actually led to breaking presidential campaign news when Sen. Hillary Clinton’s remarks about the assassination of Robert Kennedy were caught on a Mogulus stream.
With its war chest full, Mogulus just needs to figure out how to make money. The company introduced overlay ads in May and announced that it would roll out a “pro” service over the coming months that charged for a higher quality experience.
The livecasting space certainly isn’t without competitors. Ustream raised $11.1 million in April, Justin.tv says it just passed 1 million registered users, Stickam just launched a pay per view service and YouTube says it will be adding live video this year.
We sent a note to Mogulus for confirmation and will update when we hear back.