MyVideoRights, a leading UK digital rights management and monetisation company, has rebranded as Base79 and announced a GBP2.75 million funding round led by its principal investor, MMC Ventures. The Board and its existing angel investors have also participated in the funding round.
Based in London and New York, the company manages content for companies and artists including the Football Association, Mr Bean and Ministry of Sound, licensing this content to online publishers including YouTube, Hulu and Netflix. Base79 currently manages a network of content that generates over 375 million views per month.
The funding will be used to accelerate both the company’s international expansion across the US and Europe as well as significant product development initiatives that further improves its ability to distribute premium qualitycontent across multiple platforms and devices.
The rebrand to Base79 reflects the company’s vision to be the leading creators of content driven value online. The company simplifies the digital video landscape to create new profits for rights holders, content publishers and advertisers throughout the world in TV entertainment, sports and music markets.
The rebrand and funding announcement comes as the company posted growth in revenues of 805% over the last two years, placing the UK innovator as the second fastest growing media company in Europe according to the GP Bullhound 2011 Media Momentum List. This accolade followed the company being named as one of four Cool Vendors in Media by Gartner in May 2011.
Ashley MacKenzie, Founder & CEO, Base79, says: ”Our offer is playing very well. We’re excited at the opportunities presented by an ever more connected world and there is no doubt in my mind that SMARTTV’s will revolutionise the TV value chain within 5 years allowing our video content to eventually reach a huge and engaged audience of billions, seamlessly. Our rebrand to Base79 is an exciting step in our evolution as a company with the vision to be the world’s leading creators and generators of content value online.”
“The investment led by MMC Ventures is a vital ingredient for tuning our operations to meet an aggressive growth plan. International expansion and product development including investment in technology underpinning content distribution to connected devices will accelerate our growth both in the UK and internationally.”
“MMC invests growth equity in dynamic young UK companies. We back companies at an early stage and work in partnership with them to grow to substantial scale and profitability,” says Tracy Dorée, MMC Ventures. “It’s clear that Base79 is realising its enormous potential and we’re excited to provide the investment that helps the company meet its international ambitions and expand its product offering for the benefit of their partners.”
