Whipclip raises $40MN for TV clip-and-share service

DetailsMichelle Clancy | 09 July 2015

Whipclip, a start-up that supports the sharing of TV and video clips, has raised more than $40 million in a third round of funding led by asset management firm Eminence Capital.

Whipclip , which is headquartered in California with a development centre in Israel, lets mobile phone users 'clip' live TV as well as search for specific moments within past TV episodes, and share them with friends.

So far it has collaboration deals with ABC, CBS, FOX, Turner, Viacom and A&E, and music companies Universal and Sony; the new funds will be used to accelerate product development and further build its operations and content partnerships, the company said.

Since its founding last year, the company has raised more than $60 million. In January, it raised $16 million in series B, bringing its valuation to $100 million. Additional participants in this round include existing investors Institutional Venture Partners and Raine Ventures.