TurnHere, a US-based internet video production and advertising company, has raised $3m in new money as part of a $12.6m finance round from its strategic and venture investors.
TurnHere had previously disclosed it had raised $7.5m from Hearst Interactive Media, the corporate venturing division of media group Hearst, venture capital firm Venrock, management and angels in 2008.
A regulatory filing with the US Securities and Exchange Commission said "$3,000,000.30 was new money received. Whereas the remaining balance [of the $12.575m total] is from an exchage [sic] of exisiting [sic] securities."