US-based video distribution service VHX was acquired yesterday by video streaming platform Vimeo, providing an exit to corporates including cable service provider Comcast’s corporate venturing arm, Comcast Ventures.
The deal also provided exits for talent agency William Morries Endeavor (WME), Germany-based publisher Bertelsmann’s BDMI corporate venturing unit, and digital media company Bedrocket Media Ventures, as well as Union Square Ventures, Lerer Hippeau Ventures, Lowercase Capital and assorted angel investors. The amount paid by Vimeo has not been disclosed.
Founded in 2011, VHX enables independent content creators to sell subscriptions to their videos through the web and mobile apps, and it recently began offering help with establishing a presence on the Apple TV set-top box.
Vimeo will integrate VHX’s technology to complement its own offering, which ranges from a free streaming service to an on-demand platform that video creators can use to sell individual films.
Comcast Ventures took part in VHX’s series B round alongside Union Square, Lerer Hippeay, Lowercase and individual investors. The round reached an initial close of $5m in January 2015 before a second tranche boosted it to $5.8m in April, according to a regulatory filing.
WME contributed to the company’s $3.2m series A round in 2013, which was led by Union Square and backed by Lerer, Lowercase Capital and angel investor Alexis Ohanian.
Lerer previously led a $1.25m seed round in 2012 that also featured Bedrocket and angel investors including Robert Pittman, founder of television channel MTV.