TurnHere Secures $7.5 Million in Venture Capital Funding

TurnHere, Inc., the leading online video solutions platform, recently announced that it has secured $7.5 Million in funding from Venrock and Hearst Interactive Media, a division of the Hearst Corporation. The funding will enable the development of new, innovative online video products and services for TurnHere customers, as well as enhanced tools for the growth and expansion of the TurnHere filmmaker network and in-house production team.

“TurnHere is an Internet video pioneer, developing a unique style and approach. The company has transformed online video advertising, producing high-quality online video that is affordable for companies of all sizes – from local merchants to national brands,” said Rich Moran, partner, Venrock. “Given its achievements working with companies across several vertical markets, we believe TurnHere is well-positioned for future growth.”

Since the company’s launch in 2006, TurnHere has provided high-quality video production and distribution services to thousands of companies across industries including media, publishing, local, travel, real estate, education, financial services and retail. TurnHere customers include CondNet, Discovery Networks, Williams-Sonoma, InterContinental Hotels & Resorts and Simon & Schuster.

“This financing validates TurnHere’s success in pioneering a new form of video creation that is authentic, relevant and provides demonstrable benefits to our clients,” said Bradley Inman, founder and CEO, TurnHere. “Both Venrock and Hearst Interactive Media share our vision to further broaden our offerings and enhance our leadership position in the market.”

“TurnHere has developed a solid business model unmatched in the industry, based on the tremendous value of its global filmmaker network and its superior platform of video production and distribution,” said Kenneth Bronfin, president, Hearst Interactive Media. “As adoption of online video continues to increase and companies move more of their advertising budget to the Internet, TurnHere is in a prime position to capture this demand and grow its business.”

Cascadia Capital advised TurnHere on the equity financing.

TurnHere, Inc. is the leading platform for online video production and provides studio-quality Internet video advertising and Web distribution for companies in a wide range of industries including media, publishing, travel, local and real estate. The company leverages its growing network of more than 3,200 professional filmmakers across more than 50 countries to create affordable Internet videos that deliver emotionally engaging and authentic content to the right audiences. With deep backgrounds in media and video production, TurnHere works with customers on creative treatments to help produce effective venues for building online traffic. Founded in 2005, the company is privately held and based in Emeryville, California.

For more information, please visit www.turnhere.com