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Online video services firm Brightcove Inc. plans to move to the Boston waterfront from Cambridge next April, according to a press release.
The company will be moving to the Atlantic Wharf complex and expanding its staff by 120, the Boston Globe first reported. Brightcove has signed a lease for 82,000 square feet of space at the complex, developed by Boston Properties (NYSE: BXP), according to the release. That more than doubles the company's current 30,000 square feet in Cambridge.
Founded in 2004, Brightcove offers an platform for delivery of online video over the web or mobile devices. CEO Jeremy Allaire told the Boston Business Journal in March that the company has 2,700 customers worldwide and has received $99 million in financing. The firm had a total of 280 employees, with 184 in Cambridge, as of the interview, and has been rumored to be headed for an initial public offering in the near future. Allaire was named a Mass HighTech All-Star in 2007.
Brightcove would become the latest technology company to move to the Boston waterfront - although it is technically not inside the new region which city officials have dubbed the “Innovation District” - as well as the latest to move to Boston from Cambridge.
Cambridge-based Vertex Pharmaceuticals Inc. (Nasdaq: VRTX) last month broke ground on a planned complex in the Fan Pier development that it signed the lease on in May, while a number of smaller companies have moved to the waterfront area over the past year, including nine clean technology startups that recently moved into the new Greentown Labs incubator.
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