Raindance.TV locks up funding

New media co. to distribute content via web

Raindance.TV, a U.K.-based new media film distrib, has completed its first phase of fund-raising, securing just under £500,000 ($1 million), and is set to launch its website in the fall.

The company was founded 10 months ago as a distrib of indie fare via third-party platforms. It has handled 30 features and 200 shorts over a dozen platforms, including Babelgum, Daily Motion, Joost and T-Mobile.

Beginning in September, RDTV will also distrib content via its own website.

The company has finalized the makeup of its board, with Chris Auty tapped as non-executive chairman and Andre Burgess as CEO.

“The response we have had so far in the market to our combined online/off-line business model has been very promising,” said Burgess, a digital media consultant whose clients include Working Title Films and Universal Pictures.

Elliot Grove, founder of the Raindance Film Festival and the British Independent Film Awards, will act as a senior consultant to the company.

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