Tuesday, August 21, 2007

Metacafe Raises $30M

Palo Alto-based online, user-generated video site Metacafe said today that it has raised $30M in a Series C financing. The round was led by Highland Capital Partners and DAG Ventures, with participation by the firm's existing investors, Accel Partners and Benchmark Capital. Metacafe said the funding would go to support the firm's continued growth. Richard de Silva of Highland and Tom Goodrich of DAG will join the firm as part of the funding; the company also said that co-founder Arik Czerniak is stepping down from the firm to "pursue other entrepreneurial endeavors" but will remain on the board. More information »