Hi-def video company Veodia raises $8.3M
Veodia, which helps businesses create high-quality video content, has raised $8.3 million in a first round of funding.
I last spoke to Veodia chief executive Guillaume Cohen in March when he announced that in addition to Quicktime, Veodia would also support Flash content. At the time, Cohen said Veodia had raised funding, but he couldn’t provide any details. Well, those details are here: The money comes from Clearstone Venture Partners, the D.E. Shaw Group and a group fo angel investors led by Steven Berger.
San Mateo, Calif-based Veodia’s goal is to provide the video technology that companies use for training, marketing and corporate communication. Not all venture firms understood that model, Cohen says, but he argues that by focusing on businesses, Veodia will be better able to weather the economic downturn than video sites that are focused on consumers and funded by advertising.
The recently announced Flash compatibility has been a bit hit, Cohen says, and his company will soon allow customers to play high-quality Flash video live.
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About the Author, Anthony Ha
Anthony is VentureBeat's assistant editor, as well as its reporter on enterprise technology, cloud computing, and tech policy. Before joining VentureBeat in 2008, Anthony worked at the Hollister Free Lance, where he won awards from the California Newspaper Publishers Association for breaking news coverage and writing. He attended Stanford University and now lives in San Francisco. Reach him at anthony@venturebeat.com. You can also follow Anthony on Twitter.