Video Encoder Beamr Takes $4M in Funding from Verizon Ventures
The company plans to grow its business in Europe in 2017, and spur applications for its content adaptive encoding software in several industries.
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Video encoding specialist Beamr announced it has taken $4 million in new funding from Verizon Ventures. Verizon joins existing investors Innovation Endeavors, Marker LLC, and Disruptive.
Going forward, Beamr will use the investment for market development, as well as growing applications for its content adaptive optimization technology in cable, satellite, telco, and OTT workflows. In 2017, it plans on expanding its company outside the U.S., starting with Europe.
"Because our customer base is made up of leaders in the media space, we've had a front row seat at the development of UHD and now VR/360 video formats," says Sharon Carmel, Beamr's founder and CEO. "The funding is a testament to our ability to give them the applications needed to deliver a high-quality viewing experience within the limitations of the network.
"Naturally, Verizon resonated with the network benefits of our technology since it operates one of the largest video distribution platforms in the world. It's a new partnership that will help us accelerate development of the market with cable, satellite, telco, OTT, content distribution networks, and new media distributors, as well as increase our efforts in sales, marketing, and technical field resources."
In April, Beamr acquired encoding vendor Vanguard Video, and since then has combined HEVC and H.264 software encoders in its Beamr Video solution, which is available in most cloud services.
The bitrate-reduction solution gains a browser-based web dashboard and multicore video processing support.
The acquisition joins Beamr's video file size reduction abilities with Vanguard's video encoding expertise, strengthening Beamr's place in the ecosystem.
Beamr CTO Dror Gill discusses how Vanguard's encoding and optimization technologies will complement Beamr's offerings and allow for even larger bitrate savings than either company is able to achieve on its own