Online video marketplace platform Newsflare has received £2.4m in funding from Edge Investments.
Newsflare allows media companies and content creators to purchase user generated video.
The company, which launched out of beta in 2013 and raised £200,000 from an unknown investor the following year, claims to have clients in approximately 40 countries.
Jon Cornwell, co-founder and CEO of Newsflare, spoke about the raise: “Having secured this investment from Edge, we are delighted to be working with one of the most respected names in the creative industries sector.
“Edge shares our vision for the huge potential of our business model in the burgeoning user-generated video market. This investment will allow us to execute our plans for growth and to achieve our ambition for Newsflare,” added Cornwell.
Launched in 2006, Edge Investments specialises in the creative industries sector with a particular focus on media and entertainment.
Edge investment director David Fisher said: “This is an exciting moment for both Edge and Newsflare. We believe the Newsflare founders Jon Cornwell and Bevan Thomas, and their dedicated team, have identified one of the key ways in which media consumption and engagement is changing and we are thrilled to back Newsflare at this crucial stage of the Company’s development.
The investor went on to say that the growth potential for user generated video was enormous and that the firm was keen to support Newsflare’s expansion into the US and Japan.