Bedrocket Media Ventures, a next-generation media company, today announced that it has secured $15 million in funding from NEA, a venture capital firm. Bedrocket will use the proceeds to invest in the growth of the company, creating groundbreaking original content distributed through emerging cross-platform networks and social engagement.
The company reaches consumers directly by taking advantage of dramatic changes in content production, distribution and marketing. Bedrocket was founded in 2011 by CEO Brian Bedol, co-founder of Classic Sports Network and College Sports Television, in partnership with Ken Lerer, Managing Partner of Lerer Ventures and co-founder of The Huffington Post. The announcement has been made by Brian Bedol
“Bedrocket knows the value of content in a multi-platform world. We have a simple but revolutionary goal: to provide high-quality, low-cost programming across screens,” said Brian Bedol. “The old order-with its large, high-cost studios and gatekeepers-is crumbling, and the future belongs to nimble content creators who can take advantage of the seismic changes taking place in the industry. We see a unique opportunity to become a cable in the cloud. ‘This new NEA capital gives us the opportunity to do more of what we love to do: create more content and connect with audiences directly, while also working with our partners to help them achieve their creative dreams. “That’s right.
Patrick Kerins, NEA’s General Partner, said: “Bedrocket is building a ground-breaking digital TV production company that paves the way for the spread of smart TVs and continued growth in online video consumption. Brian is exactly the kind of entrepreneur we’re looking to partner with: he has deep space expertise, a proven value-creating track record, and he knows how to set up a stellar team. “That’s right.
As a creator of content across platforms and devices, Bedrocket is an incubator of original content, a producer and distributor of immersive video programming, and a developer of cross-platform distribution networks. Series A funding comes as Bedrocket continues to experience significant growth following the launch of four YouTube networks and an independent feature film this year. The YouTube networks are: Official Comedy; Network A, an action sports network in partnership with the Wasserman Media Group; Look TV, a style network in partnership with Full Picture Entertainment; and KickTV, a soccer channel in partnership with Major League Soccer;
The joint venture of Bedrocket with Interlude Fm, BIM, is developing new interactive video formats; Bedrocket has strategic investments in innovative new media companies, including: VHX, an independent filmmaker distribution platform; and Full Screen, a next-generation digital media company powered by a YouTube channel network. Bedrocket was the executive producer of Sleepwalk With Me, an independent feature film directed by writer Mike Birbiglia, which recently enjoyed a highly successful box office opening at the IFC Center in New York City following an effective buzz building social media campaign. Bedrocket is based in New York City and has 30 full-time employees.
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