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FreeWheel Secures New Funding

FreeWheel, whose Monetization Rights Management platform helps content owners and distributors sell ad inventory, on Monday announced the closing of another round of financing worth $16.8 million. New investor Steamboat Ventures -- a firm affiliated with The Walt Disney Company -- joined existing investors Turner Broadcasting System, Battery Ventures and Foundation Capital.

The investment will be used to support the company's infrastructure and continued efforts to scale globally, and develop new products. San Mateo, Calif.-based FreeWheel was founded in early 2008 by three DoubleClick alums and digital media veterans. The company offers content owners, carriers, and distributors end-to-end video ad management technology, which attempts to simplify the task of managing video ad sales, ad serving, and ad sales rights across widely syndicated distribution channels. Media clients include Turner, VEVO, CBS and MLB.com.

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