Paris - Dailymotion, a video-sharing site based in France that competes with YouTube, Metacafe, Veoh Networks and others, has raised $34 million in new financing, from Advent Venture Partners and AGF Private Equity, The Wall Street Journal reported.

Launched in 2005, Dailymotion now claims 37 million monthly visitors to its site.

The company recently launched a U.S. version of its service, implemented copyright filtering technology from Audible Magic, and partnered with TV production company RDF USA on a deal to create original Web series.

Dailymotion raised $9.5 million last October from Atlas Venture and Partech International.

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