Twitvid Raises $6.5 Million in New Funding from Azure Capital Partners and Draper Fisher Jurvetson

Sep 29, 2011, 08:00 ET from Twitvid

SAN FRANCISCO, Sept. 29, 2011 /PRNewswire/ -- Twitvid, the leading video sharing service on Twitter, today announced that it has 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."

Following this latest round of investment, Azure general partner Cameron Lester is joining Twitvid's board of directors.

About Twitvid:

Twitvid is the leading video sharing service for Twitter, providing the fastest, easiest way to share videos. In three simple steps, videos are shared with all your friends and followers via your Twitter stream. Twitvid has applications on the Android, iPhone, and the BlackBerry. Current Twitvid popular users include Justin Bieber, Tyra Banks, Lebron James, Paramount Pictures, Kevin Hart, A&E TV, New York Yankees, Al Gore, and Style.com to name just a few.

About Azure Capital Partners:

Azure is a San Francisco-based venture capital firm with over $700 million under management.  The firm invests in early stage technology companies that are at the forefront of a transformative opportunity for growth.  Azure's past investments include VMware, Bill Me Later (acquired by eBay), TripIt (acquired by Concur), SlideRocket (acquired by VMware) and World Wide Packets (acquired by Ciena).  The Azure team is recognized for industry thought leadership, a broad network of powerful industry relationships and a unique professional investment approach to venture investing.  For more information, visit www.azurecap.com.

SOURCE Twitvid



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