Video sharing site, Dailymotion, has announced a $25 million funding round led by the French Sovereign Fund, which contributed $11M to the round.
Other investors include Advent Venture Partners, AGF Private Equity, Atlas Venture and Partech International.
The fundraising will allow Dailymotion to expand globally and diversify to multiple platforms, including mobile and IPTV.
The company is in on-going negotiations with IPTV providers in the US and Europe.
Dailymotion currently attracts 60 million unique monthly visitors and one billion videos views worldwide, according to figures from comScore.
The site’s planned expansion follows the appointment of Cedric Tournay as CEO in June, after the previous chief executive, Ian Brotherson, left after just three months in the role.