SOURCE: Magnify.net

January 30, 2013 12:30 ET

Magnify.net Opens West Coast Funding Round

NEW YORK, NY--(Marketwire - Jan 30, 2013) -  Magnify.net, the Video Curation, Publishing, & Monetization Platform, today announced that it has opened a round of funding with the leadership of a major Silicon Valley investor. 

Said Magnify.net CEO Steven Rosenbaum, "We've had a remarkable 2012, growing our base of customers in Media, Publishing, and Brands. Now, with Curation rapidly becoming the first choice model for video, we thought it was time to put some gas in the tank and expand the technical team and sales resources."

Leading this round is Chris Kelly, the former General Counsel of Facebook, who's been making strategic investments in the future of the web. Said Kelly, "The combination of human editorial and algorithmic automation is still in its nascent stages. When I saw Magnify.net, I was able for the first time to imagine a world of video content organization that could rival conventional television and cable by providing publishers and brands with the tools to create unique, targeted, contextual video."

Magnify's SaaS platform provides users with a unique blend of hosted, aggregated, and curated content. The Platform powers sites including TEDx, NY Magazine, Vibe.comUSAFootball.com, and ClinicalAdvisor.com.

This new round of funding represents the first West Coast money in the company -- and heralds the significance of Magnify's revolutionary video technology and growing market penetration.

"We've been very cash conscious during the R&D and early launch phase of the company, but that was always part of the plan," said Rosenbaum. "Until user behavior shifted to web video, and CPMs rose to make video economic -- we knew curation would be a strategy that would be tested. Now we've got a market that we've grown to meet, and funding into that opportunity makes sense."

And Chris Kelly supports that vision. "Steve Rosenbaum is a passionate founder who believes that video is going to be a critical piece of the web going forward. That creates a terrific opportunity to separate signal from noise and in that curate a coherent video experience for users on desktop, mobile, and tablet platforms," said Kelly. "Steve and his team have taken an early and important lead in building what is now the foremost video curation platform. 

Magnify provides a valuable service to both video curated and video viewers alike. The power of its tools and technology could easily pivot Magnify to become the standard -- aka the 'Wordpress' for video curation on the web."

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