VMIX Receives $2M to Accelerate Growth into New Markets
San Diego, CA - October 1, 2009, (BUSINESS WIRE) - VMIX, a leading provider of online video and media management solutions, today announced that it has secured a $2 million round of Series B-1 financing.
President and CEO of VMIX Mike Glickenhaus said the additional funding was raised so that the company could accelerate growth plans and expand into new markets. "We are seeing meteoric growth in the consumption of online video, thanks to greater broadband access and advances in streaming technologies," said Glickenhaus. "This inside round was agreed on and closed quickly so that our management team can focus on building the business."
Glickenhaus added that while VMIX provides media services for hundreds of entertainment, television, radio and newspaper sites, the new investment will make it possible to capture more of the growing market for video in enterprise, non-profit and other arenas.
"VMIX prides itself in providing solutions for in-house, syndicated and user-generated content that are easy to manage and deploy, even for non-technical staff. Combining that content with development of the latest dynamic, live and mobile streaming technologies, allows us to future-proof our platform and ensure our customers get the most out of their investments in online video."
VMIX has now received a total of $23.5M in venture funding, and is backed by Enterprise Partners, Mission Ventures, JK&B Capital and ATA Ventures. All four of the company's current VC investors participated in the new round of funding.
