Online video indexing technology raises $12 million in debt and equity funding
Grab Networks, a provider of online video management software, has raised $12 million in debt and equity funding. Investors include Softbank Capital, SCP Capital, Longworth Venture Partners and Court Square Partners. Horizon Technology Finance leads the venture debt portion of the round. Grab Networks was formed last September by the merger of Anystream and Voxant.
The Dulles, Va.- based company, combines technology, distribution capabilities and advertiser relationships with one goal in mind, maximizing the value of video content. It allows its clients to re-purpose and index their content for multiple outlets and devices while capitalizing on the $20 billion online advertising market. Grab Networks has some major content partners including, ABC, BBC, CBS, NBC, NY Times, MTV News, and that’s just naming a few, it has more than 700 clients. For a full list see here.
One of Grab Networks arguments is that less than 15% of professional video ever makes it to the web, thus missing out on a chance to monetize to its potential. CEO Fred Singer explained,
“We felt strongly that to tackle this problem some company had to step up and bring together massively scalable software solutions, with massively scalable licensed content that could be syndicated across the broader web and monetized by the biggest advertisers. Only then could we finally help media companies generate digital dollars, not just digital pennies. That cannot be done without a whole new video infrastructure on the web, not just for advertising but video itself.”
Grab Networks plans on investing the cash into its video indexing technology and the growth of its ad network.
