VideoSurf Announces $16M in Funding; Gains Search Patent
Video search and recommendation site VideoSurf announced that it's raised $16 million in Series C funding. The money comes from Pitango Venture Capital and other investors, bringing VideoSurf's total investment to $28 million.
"The online video market is growing exponentially and now can be accessed on TV as well as mobile devices," says Eitan Bek, a partner at Pitango Venture Capital. "We have great faith in Lior and his team and see big potential for VideoSurf."
At the same time, the company announced that it has been awarded a patent for search technology that analyzes all the frames of a video to identify prominent objects. This video analysis takes place at ten times the speed of video playback.
"Our technology allows consumers to easily discover what to watch on any device from the infinite amount of videos available," says Lior Delgo, chief executive officer and co-founder of VideoSurf. "This funding gives us the resources to scale the company as we continue to hire the best talent and invest in our technology."
The site counts over 12 million unique visitors per month, and was founded in 2006. The company is based in San Mateo, California.
There's never been more video online, and there have never been more devices on which to watch it. So why is it still so hard to find what you want to watch?
30 Dec 2010