There is still some funding happening in the online video space, and it is going towards the technology side: Digitalsmiths, an online video indexing, analytics and publishing technology provider, has received $12 million in its second round of funding. The round was led by .406 Ventures, and included previous investors The Aurora Funds and Chrysalis Ventures.

The company is based in Research Triangle Park, N.C., and has been working with some big name clients such as TMZ (owned by Time Warner), which recently dropped Brightcove to work with company (which is kinda interesting because sister company AOL dropped its own video platform and went with Brightcove as its outsourced solution). Competition is heavy, from the likes of Brightcove, Comcast-owned ThePlatform, and others. The company raised a $6 million first round last year.

• Digital Video Search Developer Digitalsmiths Secures $6 Million First Round