US-based social-focused video technology company Epoxy secured $6.5m on Tuesday in a series A round co-led by Time Warner Investments, the corporate venturing arm of media conglomerate Time Warner, and venture capital firm Upfront Ventures.
Epoxy raised the financing following the launch of its social-first video tool, which enables online video makers to distribute their videos, and engage with and grow their audience.
Previous investors in the company include Bertelsmann Digital Media Investments, which acts as the corporate venture capital unit for media company Bertelsmann, as well as Advancit Capital, Greycroft Partners and Downey Ventures. Epoxy raised $2m in seed funding in March 2013.
“Online video is growing extremely quickly, and social and mobile are key drivers,” said Scott Levine, managing director at Time Warner Investments. “We were drawn to Epoxy because they are unique in focusing on the role of social and the importance of fan engagement to long-term success.
“Their product, team and vision are the best we have seen in the space. Epoxy is prime to meet both the current needs of online video creators and the increasing social and video needs in traditional media.”