Press Release November 22, 2005

America Online, IAC, Hearst Corp. and Allen & Company Lead $16 Million Investment in Brightcove

BOSTON, Nov. 22, 2005 — Brightcove, an Internet TV pioneer, today announced the completion of a major strategic financing round and a groundbreaking video content distribution partnership with AOL.  AOL, IAC/InterActiveCorp, The Hearst Corporation and Allen & Company LLC have joined with existing Brightcove investors Accel Partners and General Catalyst Partners to invest $16.2 million in Brightcove. The investments complete a Series B financing round that will fuel the company's growth and the launch of its products and services.

Goodwin Procter partner William Schnoor and associates David Cappillo and Christopher Keenan represented Brightcove in this transaction.