Digitalsmiths $12.5m funding
April 27, 2011
Digitalsmiths has announced that the company has closed an oversubscribed $12.5 million expansion financing. The infusion of capital accelerates US domestic and international sales of Digitalsmiths’ video search and discovery products designed to provide an upgrade to the video industry’s rudimentary content search, discovery and recommendation capabilities. Technicolor led the round; all existing investors including .406 Ventures, Aurora Funds, Chrysalis Ventures, Capitol Broadcasting and Cisco participated in the financing.
“This new funding validates our market progress. Our mission is to redefine video consumption by reaching the broadest array of devices with the most powerful video discovery platform available,” said Digitalsmiths’ CEO and Co-Founder Ben Weinberger. “We are fanatical about helping video providers make more money by offering next-generation video search and personalised discovery experiences.”