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Digitalsmiths lands $12 million for video services

Video indexing, analytics, and publishing company closed a $12 million Series B round of funding.

Digitalsmiths, a video indexing, analytics, and publishing firm, announced Thursday that it closed a $12 million Series B round of funding that was led by .406 Ventures, Aurora Funds, and Chrysalis Ventures.

According to Digitalsmiths CEO Ben Weinberger, the funding will be used to accelerate the company's product development and provide advertisers with the information they need to monetize more online video.

But monetizing that video may not be as easy as it could have been just a few months ago. Numerous reports suggest online advertising is slowing and monetizing online video is still relatively vexing for major players in the market like YouTube.

So far, Digitalsmiths has been able to perform relatively well and attracted and pulled TMZ away from Brightcove. But with Brightcove showing no signs of losing ground and other competitors like Viewdle making inroads, being more attractive to clients may not be as easy for Digitalsmiths as it may want to believe.