P2P and web video sharing service Veoh has taken $26million in Round C funding. The new money takes total investment in Veoh to $41.25million. The pre money valuation is rumored to be between $60 million and $70 million.
The company has Michael Eisner on its Board, content deals with companies like Us Magazine and United Talent Agency and as Marshall Kirkpatrick wrote in February, some very good looking technology.
According to PEHub, Goldman Sachs led the round, with earlier investors Spark Capital and Shelter Capital Partners also increasing their investment.
Veoh differs from other social video sites by focusing on syndication and video quality. They have a desktop peer-to-peer based video player for playing back longer content at higher quality. For publishers, Veoh allows uploads of any size or quality and automatically syndicates them out to YouTube, MySpace, and Google Video in the appropriate format.
Like Metacafe and Revver, publishers can also make money off of their content. However, unlike those competitors, Veoh allows publishers to directly charge viewers for content in a 50-50 split with the company. In January, Veoh’s founder, Dmitry Shapiro, told Beet.tv they had 4 million unique users.
It’s a lot of money, although in perspective Veoh has snuck up to being just shy of joining the top 200 sites online according to Alexa. There may never be a second YouTube but Veoh is a giving it a really good shot.
Check out Veoh’s Profile