Movieclips Becomes ZEFR, Raises $18.5M

Venice-based Movieclips, the online movie clips site and content site founded by Zach James and Richard Raddon, said today that it has raised $18.9M in a Series C funding round, and has rebranded itself as ZEFR. The new funding round was led by U.S. Venture Partners, and also included MK Capital, Shasta Ventures, SoftTech VC, First Round Capital, Richmond Park Partners, and Machinima CEO Allen DeBevoise. John Hald of USVP joins the company's board with the funding. The company said the name change comes as it begins to expand into television, music, and sports content, and starts its international expansion and further invests in new technology. The company said it is now focused on creating professional content on YouTube, including applying technology to identify and claim licensed content on the site so that it can be monetized by publishers. More information »