Video-sharing site Veoh has raised another $30 million and has brought aboard three brand-name investors: Intel (INTC), Adobe (ADBE)and Capital Research’s Gordon Crawford. We hear the round values the company in the $120 million- $125 million range, pre-money. The LA-based startup has raised $70 million to date. When we wrote about the company’s fund-raising efforts in February, we had heard they were looking for $40 million at a $150 million valuation.
Veoh Networks the world’s most comprehensive Internet Television service, today announced that it has received an additional round of funding led by Intel Capital, the global investment arm of Intel Corporation, and joined by Adobe Systems Incorporated and Gordon Crawford, senior vice president of Capital Research Global Investors. The funding from these new investors — with support from existing investors Shelter Capital, Spark Capital, Goldman Sachs, Michael Eisner’s Tornante Company, Time Warner Investments and Jonathan Dolgen — totals $30 million. Veoh will use the capital to further enhance its viewer offerings, strengthen its lead in video discovery, expand its advertising products and targeting capabilities, and extend its services across multiple platforms.
See Also: Veoh Raising Another $40 Million?
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