Nexage, a service that supposedly makes it easier to upload, manage and deliver mobile video content and advertising, has raised $4 million of an anticipated $4.5 million first round of funding in the form of preferred stock, reports VentureWire.

Based in Fremont, Calif., the company last raised capital in February 2008, bringing in $500,000 from various angel investors. Its lead product, PhoneCast Pro 2.0, came out last year, targeted primarily at broadcasters.


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