Alexia said this was coming a few weeks ago, so it shouldn’t come as a huge surprise, but… Viddy announced this morning that it has closed a $30 million Series B funding round. The new financing comes from investors that include NEA, Goldman Sachs, Khosla Ventures, and Battery Ventures, and the round closed just a few months after Viddy raised $6 million in a Series A round back in February.
The investment was made as the race to become the next “Instagram for video” heats up, especially after Facebook acquired Instagram for $1 billion just a few weeks ago. With that in mind, Viddy, Socialcam, Klip, Mobli, and others have been trying to attract users who wish to share their personal mobile videos with each other.
Viddy allows people to shoot and upload 15-second video clips, and has received a huge boost in popularity ever since launching a Facebook Timeline app earlier this year. It claims to have more than 27 million registered users now, according to Venturebeat, and is adding 500,000 users a day.
That said, the race to emulate Instagram in video form is far from over, but having a fair amount of money and some industry backing should help. Viddy has now raised close to $40 million. Its Series A round had investors like Battery Ventures, Greycroft Ventures, Qualcomm, and Bessemer Ventures. Viddy has also attracted an all-star list of celebrity backers, including Twitter co-founder Biz Stone, Omniture founder Josh James, Skull Candy chairman Jeff Kearl, Roc Nation, Overbrook Entertainment, ShoeDazzle founder Brian Lee, professional skateboarder Rob Dyrdek, soccer star Gerard Pique, and Shakira.
Article courtesy of TechCrunch