Video Raises $9 Million
State College, PA(01 Feb 2022)
State College, PA, February 1st, 2022 — Videon, a leader in edge computing for video, has raised a further $9m bringing total investment in the past seven months to $16.3m. The funding, led by Alter Venture Partners with participation from Voyager Capital, Fortson VC, Bruce Chizen, and Cercano Management, will drive further innovation in its next-generation video edge computing platform.
Videon’s technology powers tens of thousands of hours of live video every day for audiences across more than 19 countries. Industry-leading partners including Techex, THEO Technologies, V-Nova, and Zixi are now building and deploying applications that harness the benefits of Videon’s edge computing capabilities for their customers.
“Live video streaming continues to see exponential growth across everything from news and sports to security, emergency services, and corporate content, with the live streaming market estimated to be worth $4.26 billion by 2028,” said Tricia Iboshi, CEO at Videon. “For our customers, just getting live video over the internet is table-stakes and only the start of the story for what they need to achieve. We’ve spent the last 6 months working with industry leaders across the video ecosystem to unlock the potential of the edge to deliver new experiences, drive greater efficiencies, and create more opportunities for personalization and monetization. The latest funding will enable us to continue to innovate, adding more video applications, enabling disruptive workflows and driving live video at scale.”
Videon puts edge computing power at the point that video is created, enabling a huge array of video processing tasks to be completed before content goes into the cloud. This enables users to significantly reduce the complexity and cost of live production, adding multiple camera angles and remote feeds to meet growing audience expectations for personalized content.
Processing video at source is the key to reducing latency, the delay between the action happening and it appearing on the screen. This is especially vital for sports, gaming, and betting applications. Users can also develop and deploy highly specialized applications to support anything from artificial intelligence to image and speech recognition to build their own unique live streaming experiences.
A world-leading sports analytics platform deployed Videon’s video edge computing platform on-premise in one use case. It ran custom python scripts, docker containers, and a full suite of encoding and packaging, enabling lower cloud processing costs while achieving significant latency reduction — all of this leading to a simplified workflow.
“Live streaming is exploding but it’s actually only at the first stage of its potential. At the moment, the economics of creating and distributing live video are restricting what content creators and media organizations are able to do,” said Louis Toth, Managing Partner at Alter Venture Partners. “Videon is revolutionizing live video through powerful edge processing at an unrivaled price point. Videon’s video edge computing platform has huge market potential — it opens up unlimited live video use cases across sectors powered by low latency, multiple camera angles, technologies like AI and Machine Learning, and new monetization opportunities.”