As video solutions companies move from early video 1.0 platforms to integrated video 2.0 solutions - Magnify.net continues to build on significant growth, adding customers in its three tiers of service a). Free, b) Pro and c) Enterprise.

Today Magnify.net CEO Steven Rosenbaum announced that they had closed the A1 round of financing, bringing all of the major investors back in and adding a new institutional investor to the group.

"We are very proud to announce that the Innovation Ventures, LP has joined in this round of financing" said Steven Rosenbaum. "Innovation Ventures is lead by David Freschman, a long standing leader in the Northeast's venture community and the Founder and President of Early Stage East, the largest regional early stage venture capital conference hosted annually each year in the Mid-Atlantic region." Innovation Ventures has a 10 year history of taking strategic and early stakes in emerging venture back companies in the northeast.

Innovation Ventures is a licensed SBIC venture capital fund focused on investment opportunities in emerging technology businesses. Innovation Ventures, L.P. was formed by a team of seasoned venture managers and investors who have a ten year history of successfully investing in and working with leading-edge technology entities throughout the Mid-Atlantic region. The Fund expects to achieve superior financial results by focusing in select industries and utilizing the fundamental principles of building sustainable businesses. The Fund invests in very targeted areas including information technology focused on financial institutions and governance, specialty chemicals and materials and internet technologies.

David J. Freschman, the Managing Principal of Innovation Ventures, LP will join the Magnify.net Board of Directors. "Innovation Ventures is thrilled to have had the opportunity to invest in Magnify.net. Magnify represents the type of leading company changing the way that video can be deployed easily and most effectively throughout the web", said Mr. Freschman.

Mr. Freschman is active in the venture and entrepreneurial communities throughout the East Coast, sits on a number of Boards, and has been a frequent lecturer on such topics at The White House Conference on Small Business, The Wharton School of the University of Pennsylvania, Temple University, the University of Delaware, Goldey-Beacom College, and Loyola College in Baltimore. He is the creator and founder of Early Stage East - the premier early stage venture capital fair on the East Coast. Mr. Freschman serves on Governor Ruth Ann Minners Strategic Economic Council for the State of Delaware and was appointed to chair the venture capital study for the State. Mr. Freschman also served a three-year term through 2002 representing New Castle County, Delaware on the Small Business Advisory Council of the Federal Reserve Bank of Philadelphia.

Returning investors include RoseTech Ventures, NextStage Capital, Ogden Capital, as well as a number of individual angel investors. Said CEO Rosenbaum of the financing, we're impressed with the focus and seriousness of this group of investors - they've provided the company with far more than financing, and that is what companies always hope for from a Board of Directors. Now with the addition of David Freschman, we get a seasoned new investor with a great set of companies and relationships to help the continued growth of the company. We're excited to have him on board. In addition, Vencore Capital participated with a related Venture Debt financing.

About Innovation Ventures, L.P.
Innovation Ventures, LP (IV) is an SBIC venture capital fund headquartered in Wilmington, DE and with offices in Lancaster, PA. IV is focused on growth and early-stage investments in the areas of chemicals and materials; electronic materials and devices; information technology; nanotechnology; software; biotechnology (excluding human therapeutics); and business information services related to the legal, financial services and manufacturing industries. Innovation Ventures invests $250,000 to $1 million in early and growth stage companies primarily located in the Mid-Atlantic region. The Innovation Ventures, LP website can be found at www.innovationventures.com.

About Magnify.net
Magnify.net lets publishers immediately deploy a Media 2.0 strategy by enabling them to leverage their existing video assets and combine them with those created and uploaded by their community from across the social Web - all in one place, through one easy to deploy video player, uploader, and viewer. It provides a cost effective and automated service that features and delivers a unique and engaging video mix. The platform currently serves 46,000 web publishers. www.Magnify.net