StudioNow raises $2 million for inexpensive professional-quality video service
StudioNow has raised $2 million as part of a first round of funding to finance its online site for creating professional-quality videos at inexpensive prices.
The money came from existing investors and Clayton Associates, a Franklin, Tenn.-based private equity firm. The investment now brings the total first round investment to $4.1 million.
Clayton Associates’ additional capital infusion in StudioNow brings the total Series A investment in the company to $4.1 million. Previously, the company raised money from Claritas Capital and a group of successful technology entrepreneurs that included the original founders of WebMD precursor Envoy, Fred Goad and Jim Kever.
Nashville, Tenn.-based StudioNow also announced today the addition of three new members to its board: Clayton Associates partner Nazy Weeks and recording industry veterans Charles Goldstock, former president of BMG Music’s RCA Division, and Mark Montgomery, co-founder and CEO of Echomusic.
Founded in January 2007, StudioNow connects businesses and individuals with a network of expert video/movie editors, videographers, directors, producers, animators and voice-over artists. The company competes with traditional video production and post-production houses.
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About the Author, Dean Takahashi
Dean is lead writer for GamesBeat at VentureBeat. He covers video games, security, chips and a variety of other subjects. Dean previously worked at the San Jose Mercury News, the Wall Street Journal, the Red Herring, the Los Angeles Times, the Orange County Register and the Dallas Times Herald. He is the author of two books, Opening the Xbox and the Xbox 360 Uncloaked. Follow him on Twitter at @deantak, and follow VentureBeat on Twitter at @venturebeat.