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Eyespot Video editing and sharing community Eyespot announced today that it has closed Series A with $3.7 million in funding from Gabriel Venture Partners (primarily), Express Ventures and executives from MP3.com and DivX.

Eyespot is most popular for its web-based video editing and remixing technology. While it isn’t nearly as big as YouTube, Grouper, and Jumpcut — which have all managed to get acquired by notable companies — it’s home to an interesting community of creative mixers and mashers.

They plan to further expand and establish their existence as a ‘video remixing community’ with the funding. So far, they’ve established notable partnerships with Blip.tv and Current TV, and even artists from Columbia, Epic, and Island Records. With their growing mindset, it’s certain that there are more to come.

So, is Eyespot next to be acquired? For some reason, I have a slight feeling they might be. While YouTube is undoubtedly built on videos whose legality and ownership can be questioned — and as a result are having to face lawsuits — Eyespot is full of open and original content. They’ve got some sophisticated technology as well, which as the Yahoo!-Jumpcut acquisition has proved, has some demand.

[tags]Online Video, Eyespot, Funding, Investments[/tags]

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