New York - Magnify.net, a provider of Web video distribution services, has raised $750,000 in new financing, led by Innovation Ventures, Silicon Alley Insider reported.

Previous backers RoseTech Ventures, NextStage Capital, Ogden Capital and individual angel investors also participated.

The New York-based company previously raised a $1 million first round back in February. SAI reports the company expects to record about $1 million in revenue next year, and will use the new funds to further develop its video service, as well as to expand sales staff.

Magnify counts nearly 47,000 website customers, including Taste of Home Magazine.

Related Links:
http://snipurl.com/6tb9w (Silicon Alley Insider)

http://www.magnify.net