Compuware Ventures, the corporate venturing unit recently launched by US-based software company Compuware, has led a $1m funding round for news video streaming website Glocal, according to a report in Detroit business paper Crain’s yesterday.
Glocal will provide a base site for local news outlets across the US to post news videos and other content without paying a fee. Advertising revenue is then split between Glocal and its media partners.
As well as financing, Compuware will also provide web designers, programmers and technical advice concerning cloud computing. Glocal and Comupware are planning to launch a beta version of the site in the first quarter of next year and expect to have a finished version of the site up in the spring.