Movie rental company, Seventymm, is raising Rs 50 crore in its third round of funding that is being led by NEA-IndoUS Ventures. The company had earlier raised Rs 40 crore in funding from venture capital firms including Matrix Partners India, Draper Fisher Jurvetson and ePlanet Ventures.

Seventymm plans to be in 40 cities by the end of 2009 and have 4 million members in the next five years. The company has a revenue target of Rs 50 crore for this financial year and Rs 1,500 crore for the next five years.

The company has signed on Rediffusion as its creative agency. It plans to invest Rs 8 crore this financial year for its marketing activities. “We would talk about the movies first and then ourselves at every possible touch point (medium). So we have our delivery boys wearing a T-shirt depicting some movie. If the client isn’t home, then we have a ‘miss you’ card that says – main yahan tu kahan. We launched car screen shades in Delhi for our outdoor initiative. In addition to this, we also do viral marketing on YouTube,” said Subhanker Sarkar, Seventymm COO.

NEA-IndoUS Ventures looks at three things before investing in a company —team, the market scenario — that it has high growth potential and innovation to become a market leader, said Vani Kola, managing director, NEA Indo-US Ventures.

Seventymm, launched in March 2006, claims to offer more than 18,000 movie titles in several languages.