Brightcove Raises $59.5 Million

Brightcove Inc., a Cambridge, Mass.-based Internet TV company, has raised $59.5 million in Series C funding. AllianceBernstein, Brookside Capital and Maverick Capital co-led the deal, alongside fellow new backers New York Times Co. and Transcosmos. Return backers include accel Partners, Allen & Co., General Catalyst Partners, The Hearst Corp. and IAC/Interactive Corp. Morgan Stanley and Allen & Co. served as placement agents. GigaOm reported last month that the deal was being shopped with a pre-money valuation of around $170 million.