Magnify.net Adds $1 Million in Funding

By Daisy Whitney

Online video platform company Magnify.net raised an additional $1 million in funding, the company announced today.

The new round included existing investors Next Stage Capital, New York Angels, Rose Tech Ventures and Active Angel Investors, as well as individual investors including Chris Anderson. New investors Ogden Capital and Gideon Gartner, founder of the Gartner Group.

Magnify is an online TV platform focused on the discovery of video content. The site generates more than 3 million visits per month, the company said.

The new funds will go to business development, hiring and technology.