Brightcove brings in the big money

Brightcove announced today that they've raised $59.5 million in additional capital. It's a sign that online video continues to be strong and that Brightcove's approach is paying off.

Brightcove announced today that they raised $59.5 million in a Series C round that includes a big list of new investors including the New York Times Company.

Is the online video space getting too hot? Maybe, but Brightcove's approach is unique and seems to be attracting attention. They've built up a fantastic infrastructure for content providers using Flex and the Flash Platform. It's a good example of how giving your most important users a good experience can pay off. People like using Brightcove to manage their videos, and Brightcove has been able to build on that to create some impressive channels with some high profile partners.

I don't know where all of this ends, but with this infusion of capital I think it's safe to say that Brightcove can take some chances and continue to build on their video platform. This is a big win for Flash and I'm glad to see them do well. I covered them back in December and I continue to be impressed. Techmeme has a rundown of the opinions.