Blip.tv Raises Another $6 Million, Co-Founders Take Off

Blip.tv has raised another $6 million according to an SEC filing yesterday.

According to the filing, Blip sold a little over half of its $11 million offering for what would be its Series D round. According to TechCrunch, this was an inside round by Blip.tv’s existing investors, Bain Capital and Canaan Partners, which brings the company’s total raise to $24 million.

This past year Blip successfully redesigned itself as a destination site in May, poached top YouTube talent in a deal with the Collective Digital Studio, and just last week debuted a new logo. Although Blip has been making strides as a destination site, the bulk of its traffic is a part of a multi-tier strategy that earns over 300 million video plays each month.

The influx of cash coincides with the recent departure of CEO Mike Hudak, following fellow Co-Founders Dina Kaplan and Charles Hope. COO Steve Brookstein has taken over day-to-day CEO responsibilities while the company’s board of directors searches for a new leader.

Recently, Blip commissioned the largest research study on online video watching habits whose key findings have serious implications for the future of primetime entertainment viewing—both online and on television.