Whipclip was set to announce Tuesday a $40-million investment, adding to $20 million in previous funding for the Santa Monica start-up.
TV broadcasters and their viewers can use Whipclip's app to generate highlight videos from television in near real-time, whether from sporting matches, talk shows or popular dramas. Enabling media and viewers to legally post TV clips online has turned out well for initial testers.
Spike TV made available highlights from last month's mixed martial arts battle between Kimbo Slice and Ken Shamrock during its East Coast broadcast. Dozens of media outlets and individuals re-posted the clips, and Whipclip Chief Executive Richard Rosenblatt said that Spike TV credits those videos for leading to a "significant" uptick in viewership for the West Coast airing.