PermissionTV, a video platform for creating branded Internet television channels, has closed on its third round of funding for $9 million. The round was led by Castile Ventures and Point Judith Capital.
Existing investors include Common Angels, CramerOnline, inflection Point Investors, the Massachusetts Technology Development Corp., SAS Investors and the Venture Capital Fund of New England, bringing the total amount raised for PermissionTV to $18 million. The latest round of funding is planned to go towards upgrading its technology platform and hiring more sales staff. With PermissionTV, sites can enable branded video distribution for their users, for broadcasting purposes. Existing clients include myNetwork TV and BiggyTV.
PermissionTV competitors include companies such as Brightcove, Mogulus and Limelight, which has recently become an IPO.