MediaVast, Inc. (http://www.mediavast.com) has closed a $15 million Series C round of equity financing led by QVT Fund LP, a new investor in the privately-held, New York-based company. Also participating in this round were previous key investors Time Warner Investments and Baroda Ventures (led by GeoCities' founder David Bohnett), as well as several strategic and individual investors, such as SBE Entertainment Group.

Jason Nevader, CEO and Co-Founder of MediaVast, commented: "To have recurring and new investors entrust MediaVast with their support is truly validating to us. In the coming months, we see MediaVast as uniquely positioned to capitalize on a public appetite for entertainment and sports photography, which shows no sign of abatement. International markets and potential acquisitions will receive enhanced attention."

The infusion of capital comes at a key juncture in MediaVast's accelerated development. In five short years, the Company has aggregated a library of nearly seven million visual assets comprised of high-quality, ready-to-publish digital images and video clips, brokered deals with major sports leagues, developed a distinctive stock photography offering and launched a video division. Today, over 2,600 photographers worldwide contribute images to MediaVast's library, which are in turn licensed by print and online media, advertising agencies, broadcast networks, mobile carriers, communication agencies and other publishing enterprises. The Company has also successfully ventured into areas as diverse as high-end celebrity photography syndication and mobile content development.

A strategic participant in this round was SBE Entertainment Group, a Los Angeles-based hospitality and lifestyle company which comprises five divisions encompassing hotels, restaurants and nightclubs, events, real estate and film.

Commented SBE CEO Sam Nazarian: "We are very excited to participate in this round of financing for MediaVast, particularly given their increasing focus on targeting the business-to-consumer sector. SBE offers a valuable network of consumer touch points for MediaVast to leverage, and we look forward to creating important synergies with their brands."

About MediaVast, Inc.

MediaVast, Inc. (http://www.mediavast.com) is a leading provider of high-quality visual content and related services to print and online media, advertising agencies, broadcast networks, mobile carriers, communication agencies and other publishing enterprises. MediaVast operates a portfolio of five visual content brands: WireImage (http://www.wireimage.com), FilmMagic (http://www.filmmagic.com), Contour Photos (http://www.contourphotos.com), WINCreps (http://www.wincreps.com), and DMI Photo (http://www.dmiphoto.com).

MediaVast is a privately-held company with over 230 employees and offices in New York, Los Angeles, Miami, Las Vegas, Atlanta, London, Tokyo, Sydney and Hamburg. MediaVast also provides image syndication through a global network of agency affiliates in over 50 countries.

Source: prnewswire