Exclusive: MovieClips nears new funding

July 19, 2012, 7:56 PM UTC

FORTUNE — MovieClips, a searchable online library of film scenes, is in the process of finalizing a new round of venture capital funding that will be led by U.S. Venture Partners, Fortune has learned.

Some details remain to be worked out, but I’m hearing that the raise will be north of $15 million at a valuation of approximately $80 million.

The Venice, Calif.-based company previously raised around $10 million from firms like First Round Capital, Shasta Ventures, MK Capital and SoftTech VC.

For more on the company — which helps users create movie mash-ups, in addition to just watching old clips — below is a promo video that MovieClips posted on YouTube (yes, there is a bit of irony in that):


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