Twitvid Raises $6.5M, Plans to Add Staff, Grow Infrastructure
Twitvid, a mobile video sharing service that works with Twitter, has raised $6.5 million in series B funding. The round was led by Azure Capital Partners, a San Francisco, California-based venture capital firm. Draper Fisher Jurvetson, a previous investor in the company, also contributed.
As part of the agreement, Azure partner Cameron Lester is joining Twitvid's board of directors.
The two-year-old Twitvid plans to use the new funds to expand with new hires, although it didn't say in which areas. It will also build out the service's technology infrastructure.
"We are excited to have Azure on board as a partner given their deep relationships and experience," says Mo Al Adham, CEO of Twitvid. "As the leading video service in the thriving Twitter ecosystem, our product hits the sweet spot between mobile, social, and video, and this new capital is key to help us expand our product offering and continue our rapid growth."
Twitvid says that it has doubled its users base year after year. The company offers apps for iOS, Android, and BlackBerry mobile devices. It's often used by celebrities, such as Justin Bieber, Tyra Banks, and Lebron James, when sharing with fans on Twitter.
Viewers will be prompted to follow a company or retweet a message before viewing video.