Nexage raises $4M to serve mobile video content
Nexage, a service that supposedly makes it easier to upload, manage and deliver mobile video content and advertising, has raised $4 million of an anticipated $4.5 million first round of funding in the form of preferred stock, reports VentureWire.
Based in Fremont, Calif., the company last raised capital in February 2008, bringing in $500,000 from various angel investors. Its lead product, PhoneCast Pro 2.0, came out last year, targeted primarily at broadcasters.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.