Eyespot Corp., the leading provider of easy-to-use video editing and mashups applications, today announced that it has closed its Series A funding of $3.7 million. The preferred series offering was led by Gabriel Venture Partners. Other participants include Express Ventures and executives from MP3.com and DivX. The funding will enable the company to further develop its online and mobile products as well as execute its strategy of providing video platform technology to major media companies.
"We're still in the early days of user-generated video, and have long believed that a platform like Eyespot is needed to take user-generated content to the next level, beyond simple upload or pirated content to active creation and participation," said Tim Chang, partner at Gabriel Venture Partners. "Setting Eyespot apart from others in this space is its experienced management team and unique capabilities to integrate user-generated video with the cell phone, a platform we believe will be the preferred way to capture authentic slices of life in the future."
Eyespot, www.eyespot.com , allows users to mix video, photos and music into a single, edited video that can then be distributed to mobile phones, websites, portable devices or email. Since its beta launch in April of 2006, the company has successfully established relationships with Lions Gate Entertainment, Blip.tv, Veoh Networks, Current TV and artists from labels including Zomba/Jive, TVT, Columbia, Epic, Island Records, and Concord Records.
"Millions of people are shooting video and posting it online, but most people do not have access to, or the proficiency to use complex editing applications. By providing consumers with easy-to-use video editing tools, Eyespot is eliminating the barriers to creation and distribution of online and mobile user generated content,? said Jim Kaskade, the company?s co-founder and CEO. ?Our partnerships with leading media companies allow users to create great mash-ups of their own content and compelling content from their favorite artists. We will continue to expand the tools that allow consumers and media companies to leverage Eyespot as a part of their own online offerings."
The proliferation of cell phones, camcorders and digital cameras allow even novices to capture digital video, however putting the footage together into coherent stories has been cumbersome, challenging and technologically intensive. Eyespot allows even the most inexperienced person to create compelling digital video.
The user friendly, website enables users to edit, mix together, produce and distribute their custom videos without downloading additional tools or even leaving the Eyespot website.
Eyespot?s mashup features allow users to enhance their creativity by grabbing content from other users, content creators and publishers.
Eyespot?s ?one-click? distribution removes the complexity of disseminating users? videos online to blogs, social networks or video sites and on other platforms such as iPods?, PSPs?, and mobile phones.
Eyespot Mobile Share allows users to send and receive videos captured on mobile phones to and from the Eyespot website. Users can also mobilize their online experience and play, search, rank or share videos directly from their handsets to a variety of online sites or friend?s multi-media enabled cell phones.
Gabriel Venture Partner?s Chang will join Eyespot?s Board of Directors, further enhancing a very strong extended team of digital media & mobile veterans.
Eyespot changed the landscape of online digital media when it offered the world's first online video editing and remixing community, where consumers can easily upload, edit, mix together and share video clips, audio files or photos in one place online. The company was founded in 2005 by digital media and technology industry veterans and is based in San Diego, Calif. Eyespot can be found on the web at http://www.eyespot.com .
About Gabriel Venture Partners
Gabriel Venture Partners? is an early-stage venture capital firm committed to building industry leaders by actively partnering with entrepreneurs to build the market leaders of tomorrow in technology and technology-enabled businesses. Gabriel is based in Silicon Valley and has over $260 million under management. Gabriel's investment team consists of seasoned technology entrepreneurs and industry executives, each with international operating experience and strong domain expertise. Representative investments include Placeware (acquired by Microsoft), NetScaler (acquired by Citrix), and Iridigm (acquired by Qualcomm)