Auditude Raises $10.5 Million

Auditude, a startup that enables media companies to profit from user uploads of their content, has raised $10.5 million from Redpoint Ventures and Greylock Partners. The company, which we’ve paid close attention to, has altogether raised $23 million in institutional funding.

Palo Alto, Calif.-based Auditude currently has deals with MTV Networks, Warner Bros. Entertainment and MySpace. It uses an extensive index hundreds of millions of videos culled from TV and elsewhere to fingerprint user uploads and attach ads that link to official versions of a show or song. As part of its platform, Auditude has built a system for advertisers, content owners and hosts to manage ad inventory across multiple players on multiple sites. The company makes money through revenue sharing. Its competitors include fingerprinting services like Vobile as well as ad management systems like FreeWheel.

The big coup, though, would be to sign YouTube. With regards to that relationship, Auditude CEO Adam Cahan told us today, “Generally speaking it’s tough to make partnerships between technology companies. But we’ve had lots of discussions with them and others.”