Exhibit 99.3

Brightcove Inc.

Unaudited Pro Forma Condensed Combined Financial Statements

The following unaudited pro forma condensed combined financial statements of Brightcove Inc. (the “Company”) and Zencoder Inc. (“Zencoder”) have been prepared to give effect to the acquisition of Zencoder by the Company pursuant to the merger of Zebra Acquisition Corporation, an indirect subsidiary of the Company, with and into Zencoder, on August 14, 2012. The unaudited pro forma condensed combined balance sheet as of June 30, 2012, and the unaudited pro forma condensed combined statements of operations for the six months ended June 30, 2012 and the year ended December 31, 2011 are presented herein to reflect the acquisition of Zencoder.

The unaudited pro forma condensed combined balance sheet combines the unaudited condensed consolidated balance sheet of the Company as of June 30, 2012 and the unaudited condensed balance sheet of Zencoder as of June 30, 2012 and gives effect to the acquisition as if it had been completed on June 30, 2012, including any adjustments to fair value required. The unaudited pro forma condensed combined statement of operations for the six months ended June 30, 2012 combines the unaudited historical results of the Company and the unaudited historical results of Zencoder for these periods, and the unaudited pro forma condensed combined statement of operations for the year ended December 31, 2011 combines the audited historical results of the Company and the audited historical results of Zencoder for the year then ended. The unaudited pro forma condensed combined statements of operations give effect to the acquisition as if it had occurred on January 1, 2011.

The historical consolidated financial information of the Company and Zencoder has been adjusted in the unaudited pro forma condensed combined financial statements to give effect to pro forma events that are (1) directly attributable to the acquisition, (2) factually supportable, and (3) with respect to the statements of operations, expected to have a continuing impact on the combined results. The unaudited pro forma condensed combined financial statements presented are based on the assumptions and adjustments described in the accompanying notes. The actual financial position or results of operations reported by the combined company in periods following the acquisition may differ significantly from those reflected in these unaudited pro forma condensed combined financial statements for a number of reasons, including but not limited to the impact and benefits of the acquisition, cost savings from operating efficiencies, synergies and the incremental costs incurred in successfully integrating and operating the Zencoder business. There were no transactions between the Company and Zencoder during the periods presented in the unaudited pro forma condensed combined financial statements that would need to be eliminated. The unaudited pro forma condensed combined financial statements presented are based upon available information and assumptions that the Company believes are reasonable. The unaudited pro forma condensed combined financial statements are based upon the respective historical and pro forma financial information of the Company and Zencoder, and should be read in conjunction with:

These unaudited pro forma condensed combined financial statements are presented for informational purposes only and do not purport to represent what the financial position or results of operations would actually have been if the acquisition occurred as of the dates indicated or what such financial position or results will be for any future periods.

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The unaudited pro forma condensed combined financial statements were prepared using the purchase method of accounting, whereby the Company is treated as the acquiring entity. Accordingly, consideration paid by the Company to complete the acquisition of Zencoder was allocated to Zencoder’s assets and liabilities based upon their estimated fair values as of the date of completion of the acquisition. The pro forma purchase price adjustments are preliminary, subject to further adjustments as additional information becomes available along with the completion of the independent purchase price allocation and as additional analyses are performed and have been made solely for the purpose of providing the unaudited pro forma condensed combined financial information presented below.

The Company expects to incur additional costs associated with integrating the businesses of the Company and Zencoder. The unaudited pro forma condensed combined financial statements do not reflect the cost of any integration activities or benefits that may result from synergies that may be derived from any integration activities.

Based on the Company’s preliminary review of Zencoder’s summary of significant accounting policies disclosed in Zencoders’s financial statements, the nature and amount of any adjustments to the historical financial statements of Zencoder to conform Zencoder’s accounting policies to those of the Company’s are not expected to be significant. Further review of Zencoder’s accounting policies and financial statements may result in required revisions to Zencoder’s policies and classifications to conform to the Company’s.

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Unaudited Pro Forma Condensed Combined Balance Sheet

As of June 30, 2012

See accompanying notes to unaudited pro forma condensed combined financial statements.

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Unaudited Pro Forma Condensed Combined Statement of Operations

For the Six Months Ended June 30, 2012

See accompanying notes to unaudited pro forma condensed combined financial statements.

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Unaudited Pro Forma Condensed Combined Statement of Operations

For the Year Ended December 31, 2011

See accompanying notes to unaudited pro forma condensed combined financial statements.

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Note 1. Basis of Presentation

On August 14, 2012, pursuant to an Agreement and Plan of Merger (the “Merger Agreement”) by and among Brightcove Inc. (the “Company”), Zebra Acquisition Corporation, a Delaware corporation (“MergerCo”), Zencoder Inc., a Delaware corporation (“Zencoder”), and James Lindenbaum as Securityholders’ Representative, the Company completed its acquisition of all of the issued and outstanding shares of capital stock of Zencoder, and MergerCo merged with and into Zencoder, with Zencoder remaining as the surviving entity and a wholly-owned subsidiary of the Company. The purchase price of Zencoder was approximately $30.0 million and was funded by cash on hand. Of the $30.0 million purchase price, approximately $2.7 million was withheld by the Company at closing and will be paid to certain Zencoder employees as they perform specific services for the Company. These amounts will be charged to compensation expense as incurred. Pursuant to the Merger Agreement, $4.6 million of the purchase price was placed into an escrow fund. The accompanying unaudited pro forma condensed combined financial statements present the pro forma consolidated financial position and results of operations of the combined company based upon the historical financial statements of the Company and Zencoder, after giving effect to the acquisition of Zencoder and adjustments described in these footnotes, and are intended to reflect the impact of the acquisition on the Company.

The unaudited pro forma condensed combined balance sheet combines the unaudited condensed consolidated balance sheet of the Company as of June 30, 2012 and the unaudited condensed balance sheet of Zencoder as of June 30, 2012 and gives effect to the acquisition as if it had been completed on June 30, 2012. The unaudited pro forma condensed combined statements of operations for the six months ended June 30, 2012 combines the unaudited historical results of the Company and the unaudited historical results of Zencoder, and the unaudited pro forma condensed combined statements of operations for the year ended December 31, 2011 combines the audited historical results of the Company and the audited historical results of Zencoder. The unaudited pro forma condensed combined statements of operations give effect to the acquisition as if it had occurred on January 1, 2011.

The acquisition was accounted for using the purchase method of accounting in accordance with Accounting Standard Codification 805 - Business Combinations, and the Company’s cost to acquire Zencoder has been allocated to the assets acquired and liabilities assumed based upon respective preliminary estimate of fair values as of the date of the merger using assumptions that the Company’s management believes are reasonable given the information currently available. The process for estimating the fair values of identifiable intangible assets and certain tangible assets requires the use of significant estimates and assumptions, including estimating future cash flows and developing appropriate discount rates. The excess of the purchase price over the estimated amounts of net assets of $20,304,057 as of the effective date of the acquisition was allocated to goodwill in accordance with the accounting guidance. The amounts allocated to acquired assets and assumed liabilities in the unaudited pro forma condensed combined financial statements are based on management’s preliminary internal valuation estimates. Definitive allocations are being performed and finalized based on certain valuations and other studies performed by the Company with the services of outside valuation specialists. Accordingly, the purchase price allocation adjustments and related amortization reflected in the foregoing unaudited pro forma condensed combined financial statements are preliminary, have been made solely for the purpose of preparing these statements and are subject to revision based on a final determination of fair value.

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Note 2. Purchase Price Allocation

The net purchase price of Zencoder was approximately $27.2 million and was funded by cash on hand.

The total purchase price has been allocated to Zencoder’s tangible assets, identifiable intangible assets and assumed liabilities based on their estimated fair values as of June 30, 2012. The excess of the purchase price over the tangible assets, identifiable intangible assets and assumed liabilities will be recorded as goodwill. The Company’s estimates and assumptions in determining the estimated fair values of certain assets and liabilities are preliminary and are subject to change. The total purchase price was allocated as follows:

The preliminary fair value of the intangible assets has been estimated using the income approach in which the after-tax cash flows are discounted to present value. The cash flows are based on estimates used to price the transaction, and the discount rates applied were benchmarked with reference to the implied rate of return from the transaction model as well as the weighted average cost of capital. Based on the preliminary valuation, the acquired intangible assets are comprised of existing technology of approximately $6.1 million, representing the video encoding service, customer relationship assets of approximately $4.0 million, trade-names of approximately $368,000 and non-compete contracts of approximately $596,000. There was no in-process research and development identified.

The existing technology assets relate to currently marketed products. Given the uncertainties inherent with product development and introduction, there can be no assurance that any of the combined company’s product development efforts will be successful on a timely basis or within budget, if at all. These preliminary estimates of fair value and estimated useful lives may vary materially from the final acquisition accounting, and the difference could have a material impact on the accompanying unaudited pro forma condensed combined financial statements. A 10% change in the valuation of definite lived intangible assets would cause a corresponding $171,821 annual increase or decrease in amortization expense. As the Company completes its fair value analysis, additional information may be obtained by the Company regarding the specifics of Zencoder’s intangible assets, and additional insight may be gained that could impact: (i) the estimated total value assigned to intangible assets, (ii) the estimated allocation of value between definite-lived and indefinite-lived intangible assets and/or (iii) the estimated weighted-average useful life of each category of intangible assets. The estimated intangible asset values and their useful lives could be impacted by a variety of factors that may become known as the Company completes its final acquisition accounting.

After allocation of the preliminary purchase price to the estimated fair values of acquired assets and liabilities as of June 30, 2012, goodwill is approximately $20.3 million. The factors contributing to the recognition of the amount of goodwill are based on several strategic and synergistic benefits that are expected to be realized from the Zencoder acquisition. These benefits include the expectation that the combined company’s complementary products will significantly broaden the Company’s offering in video encoding and delivery. The combined company will benefit from a broader global presence and with the Company’s direct sales force and larger channel coverage, the combined company anticipates significant cross-selling opportunities.

Deferred tax liabilities include tax effects of fair value adjustments related to identifiable intangible assets.

Tangible assets acquired and assumed liabilities were valued at their respective carrying amounts recorded by Zencoder, as the Company believes that their carrying value amounts approximate their fair values at the acquisition date.

The pro forma condensed combined statements of operations do not reflect estimated transaction expenses incurred by the Company of approximately $475,000, transaction expenses incurred by Zencoder of approximately $200,000 and stock-based compensation expenses of Zencoder as a result of the acquisition for the acceleration of vesting and settlement of outstanding stock options of approximately $40,000.

Note 3. Pro Forma Adjustments

The following pro forma adjustments are based on preliminary estimates, which may change as additional information is obtained. Note that the following pro forma adjustments exclude the decrease in interest income that would have resulted based on the estimated decrease in the Company’s cash available for investment as a result of estimated $27.2 million in cash utilized for the Zencoder acquisition, as the related interest that would have been earned would be immaterial.

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