Video Ad Network Broadband Enterprises Raises $10 Million From Velocity

Broadband Enterprises, a NYC-based Web video ad network, has raised $10 million from Velocity Interactive Group, the new fund headed by Ross Levinsohn and Jon Miller.

Broadband is a nearly anonymous player in the web video business — had you heard of them? — but one that claims eye-popping stats: The four-year old company says its network reaches 44 million uniques a month, and puts out 1 billion streams a month, 25% of which it sells ads against. Best stat: It is profitable.

Broadband is not reinventing the Web video wheel. Its basic model is to take content from other producers (Warner Bros, CNET, the AP, etc) and sell it on a network of some 2,000 sites, including CBS local affiliates, USA today, ClearChannel sites, etc. It sells pre-roll ads, says CEO Matt Wasserlauf, because that’s the ad unit ad buyers like best.

This is Velocity’s first investment since it unveiled itself last month. There are plenty more in the pipeline, says Jon Miller: “I think you may be hearing from us every three weeks or so.”

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