Twitvid,
a video sharing service on Twitter, announced that it raised $6.5 million in Series B funding. Azure Capital Partners
led the round with existing investor, Draper
Fisher Jurvetson, contributing. The company will use the proceeds to expand the
team, and build out the product and technology infrastructure.
Launched
in May of 2009, Twitvid has grown its user base by over 100 percent year over
year.
“We
are excited to have Azure on board as a partner given their deep relationships
and experience,” said 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,” Adham added.
Following
this latest round of investment, Azure general partner Cameron
Lester is joining Twitvid’s board of directors.
By
Telecomlead.com Team
editor@telecomlead.com
