VideoEgg Hatches $12 Million in Funding

VideoEgg, a social video ad network which launched on Monday, has just announced it has received $12 million in round C funding, headed by venture firm Maveron. August Capital and First Round Capital, two of VideoEgg's existing investors, also contributed. The VideoEgg system lets users quickly upload video and publish it in a platform-agnostic format. The company already claims to be streaming more than 20 million videos a day.