Sightly raises $5.6 in VC funding for local video platform development
Michelle Clancy | 24-12-2012
Sightly, a local video platform in the US, has raised $5.6 million in venture capital, positioning the company for expanding within the local video and mobile space.
Sightly's local video platform helps businesses be discovered by consumers as they rapidly shift to video, mobile and social media.
"We believe that video – particularly on mobile devices – is going to drive how consumers find and choose local businesses," said John McIntyre, founder and CEO of Sightly. "This funding from both new and current investors not only validates this vision but supports its realisation."
McIntyre said Sightly will use the new capital to fuel continued growth and expand the reach and functionality of their local video platform. Sightly customers include local small-to-medium-sized businesses, national multi-location brands and major channel partners.
The round was led by Moscow-based Bright Capital Digital and included additional new investor Foresight Ventures. Also joining this round of funding are current investors Floodgate, Tomorrow Ventures, Bullpen Capital, Mack Capital and 500 Start-ups.
"Local is exploding," said Mike Maples of Floodgate. "Sightly not only has a compelling vision of where the market is heading for consumers and local businesses, but they have a breakthrough approach on how to make that vision a reality and create a game changer in local advertising."
In keeping with its focus on local video, Sightly recently chose to sell its corporate video production division along with its original name of PixelFish.