Paris-based video-sharing hub Dailymotion said Thursday that is has raised another $25 million. The round was led by the French Sovereign Fund, and included original investors Advent Venture Partners, AGF Private Equity, Atlas Venture and Partech International.
Also in April, French newspaper Le Journal du Net reported that Dailymotion was seeking an additional investment to counter a depressed global online advertising market.
Most recently, in late 2007, the company raised $34 million from AGF Private Equity (a division of Allianz AG) and Advent Venture Partners LLP to finance its hasty U.S. invasion.
Dailymotion was launched in 2005 in Paris, and now has offices in New York, London, Barcelona and Cannes. It offers a mix of official content from partners such as Channel 4, ITN ON, Turner Broadcasting, Viacom/MTV Networks and Universal Music, as well as user-generated content and videos from the Motionmaker program for creative contributors, which is curated by Dailymotion's programming team.
Also in April, Red Bee Media commercial director Ian Brotherston was brought in to replace Mark Zaleski as the company's CEO. "Ian's primary focus will be to lead Dailymotion in its next phase of development," including the company's continued U.S. expansion, Benoist Grossmann, partner at AGF Private Equity, said at the time.
The French Sovereign Fund contributed $11M to this latest round.
Late last year, Dailymotion appointed digital specialist agency Poke to assist with positioning its brand for international growth, including branding, digital strategy, Web and interactive marketing initiatives.