Overlay.tv Gets Another $4.6 Million

Overlay.tv, a company that layers additional information like graphics, ads and links over video, announced today that it secured $4.6 million in its second round of funding.

The company says the money will be used to continue its UGC efforts and expand into more premium content and brand partnerships, which is a slight shift in strategy from when it went beta back in February. Back then, the company was focused on user-generated advertising, encouraging people to make videos into clickable ads and share in the revenue they generated. Since Overlay’s official launch in September, the company has formed partnerships with Nettwerk Music Group, Hollywood Records, KidzBop and Transcontinental Media.

Competition to junk up better monetize video streams with overlay ads is heating up. In addition to the existing competition like PLYMedia and TicTacTi, newcomers like Keystream and ZunaVision have entered the space in recent months.

The new round of funding mirrors the $4.6 million the Ottowa-based Overlay received in January of this year with existing investors Celtic House Venture Partners, Tech Capital Partners and EdgeStone Capital Partners re-upping.

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