San Francisco - CastTV, a developer of video search technology, announced on Tuesday that it has raised $3.1 million in its first round of venture capital, led by Draper Fisher Jurvetson.

San Francisco-based CastTV said its search technology overcomes current hurdles in the space, like online videos hidden from traditional search engines behind Flash, JavaScrip and media player plug-ins, and the often incomplete or disorganized metadata associated with online videos.

The company will use the funds to accelerate growth and product development.

CastTV plans to launch a beta version of its video search service next month, with a full consumer launch to come in the summer.

Related Links:
http://corp.casttv.com/news/2007/04/23/casttv-closes-series-a-led-by-dfj