Whipclip, a startup that has developed a mobile platform that lets consumers legally create and share video clips from TV shows and music videos, said it has notched a $40 million “C” round of financing led by Eminence Capital.
Existing investors Institutional Venture Partners and Raine Ventures also participated in the round. As part of the financing agreement, Eminence Capital will join the Whipclip's board of directors.
Whipclip said it will use the new funding to accelerate product development and to expand its operations and content partner relationships.
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