US virtual market player has raised $4.5m from Hollywood and Silicon Valley as it closed a second round of financing led by Japan''s Softbank Venture Capital.

Amongst the equity investors are former Viacom chief Frank Biondi''s Waterview Advisors and Pehong Chen, president and CEO of Broadvision.

Launched last year Reelplay is one of several online enterprises looking to tap the business-to-business film market. Biondi is also an investor in web-based short film distributor and producer AtomFilms.