Along with my partners and founders of Videon, Todd Erdley, and Paul Brown, and our CFO Harry Solomon, we are proud to announce that we have raised a further $9M bringing total investment in the past seven months to $16.3M, led by our good friends at Alter Venture Partners with participation from Voyager Capital, Fortson VC, Bruce Chizen, and Cercano Management.
This new round of funding will further drive a huge array of powerful ultra low latency video applications to be enabled at the point of which content is created. The result, the flexibility and power on premise to support the growing capabilities of live video cloud-based workflows.
This statement made by our president, Todd Erdley is core to our culture.
Videon, along with our investors and advisors, look forward to continuing to do just that by empowering and supporting an ecosystem of global app developers, engineers, product managers, and executives who are creating platform applications that enable new live video experiences.
We are committed to providing the power, flexibility, and innovation so that our industry can quickly serve important segments that drive better user experiences, economics, scale, security and create the foundation for future innovations.
In the 11 months since I started at Videon, I've only been to the corporate office one time. I've had one board meeting in person, one outdoor socially-distanced ice tea in the cold, and collaborated with my team the rest of the time over Zoom. Still, I've never felt more connected to so many old colleagues, an explosive video industry, and a world-class team of product managers, engineers, executives, and operators.
In my 20+ years working in IP video, I've never been so proud to be in an industry that has adjusted so quickly to enable remote productions, decentralized workflows, and drive new consumer experiences – all while facing the pressures and hardship of a global pandemic.
It's truly an incredible time to be in the live video industry.
I want to thank Erik Benson for believing in us and being such a great friend for all these years. Thank you, Cole Younger, Diane Fraiman, Bruce Chizen, and our angels in Pennsylvania for your support early on, both financially and strategically. Your advice, support, and vision have been invaluable.
I want to thank YB Choi for going on this ride with me for a second time. You are one of the best in the industry, and I can't say enough good things about you and your firm.
To the team at Alter, we knew from the first call that this was going to be an incredible relationship. I thank you for your enthusiasm and trust in our mission.
To Louis Toth, a long-time associate and friend, I am forever grateful for you. Your industry insights, meticulous attention to detail, and deep understanding of people are truly impactful in the best possible way.
Let's continue to make live video better, together.
We've only just begun.
Live video workflows are transforming to live streaming at warp speed–whether it’s a new video protocol, standard, technology or architecture–the ability to adapt quickly is paramount. Leading the charge are use cases that require quality, security and ultra-low-latency, such as live events, sports and betting.