You’re reading it here first: The other day we mentioned Heavy.com‘s fifth round of funding…turns out it is much more than the amount we mentioned there: the NYC-based broadband video firm has received $20 million in this round of funding, all from Polaris Ventures. The venture firm invested $10 million in the company early last year.
The funding will be used to expand Heavy.com network internationally and to create additional new services. The company claims that in 2006, its revenues grew by 350 percent.
Earlier this fall we started hearing tips about the company being up for sale ...those rumors didn’t pan out and presumably the company decided to go ahead on its independent path.
Simon Assaad, the co-CEO of Heavy, will be on a panel paidContent.org is producing at NATPE next week, where we will discuss creating content for a multi-platform world, and I will ask him about this funding and plans going ahead.