Blip.tv, a startup that lets independent producers create their own Web TV shows, just announced a $10.1 million third round of funding.
The New York City company was founded in 2005. It said there are now 44,000 producers creating shows, and that those shows attract a total of 90 million views per month. Blip.tv runs targeted advertising on around 85 percent of those views. In addition to hosting shows on its own site, it syndicates them to other video sites and services like iTunes, YouTube, and Vimeo.
The round was led by Canaan Partners, with additional investment from previous backers Bain Capital Partners. Blip.tv said it will spend the money on growing its content services team and international sales force, and on developing new products.
“We started in 2005 with a simple mission: to change the entertainment industry by making independent show production sustainable and scalable,” cofounder and chief executive Mike Hudack said in the announcement. “We’re moving on to the next phase of executing against that mission …. We’re making more shows sustainable every single day, and now we’re going to accelerate that change even faster.”