Base79’s board and existing angel investors have also participated in the funding round that will be used to accelerate both the company’s international expansion across the US and Europe, and fund further product development.

Based in London and New York, the company manages content for companies and artists including the Football Association, Mr Bean and Ministry of Sound. The business licenses the content to online publishers including YouTube, Hulu and Netflix.

According to a statement from Base79, the re-brand and funding announcement comes as the company posted growth in revenues of 805 per cent in the last two years. Base79 was founded in 2008. It currently manages a content portfolio that generates over 375 million views per month.

Founder and chief executive Ashley MacKenzie comments, ‘Our re-brand to Base79 is an exciting step in our evolution as a company with the vision to be the world’s leading creators and generators of content value online.’

He adds, ‘The investment led by MMC Ventures is a vital ingredient for tuning our operations to meet an aggressive growth plan. International expansion and product development including investment in technology underpinning content distribution to connected devices will accelerate our growth both in the UK and internationally.’