BitTorrent, one of the better known programs for downloading free files, has raised $8.75 million in venture funding in an attempt to “go legit”.

While BitTorrent is widely popular among swappers of videos, cd-rips, and images of installation disks, it was not designed to specifically download illegal content as organizations like the RIAA and MPAA have claimed. The core of BitTorrent’s technology is the ability to easily and cheaply distribute large files.

BitTorrent claims that it will use the funds from DCM-Doll Capital Management to improve its infrastructure further and appeal more to Hollywood (i.e. add some level of copyright protection).

Overall, BitTorrent’s distribution technology is very efficient. If the company can find a way to add some level of protection for content owners, the rewards could be quite large, for it and the industry.