Online video encoding specialist Encoding.com has landed $2 million in funding just a week after it announced a new product, Instant Encoding, which starts transcoding source videos as the upload process begins and helps accelerate the entire video workflow.
The company said the funding will be used to continue scaling the business as its customer base grows past 1,700 and its new short URL service, Vid.ly, begins to ramp up after being opened to the public last month.
The $2 million funding round is being supported by current investors, and is being led by Marc Michel, Managing Partner of Metamorphic Ventures. Joining Metamorphic Ventures in the round are Patrick Condon, co-founder of Rackspace and active Angel investor; John Engates, CTO of Rackspace; and Dave Morgan, CEO of Simulmedia and founder of TACODA and Real Media.
"We continue to execute well on our mission to be the shovel in the broadband video gold rush," said Jeff Malkin, president of Encoding.com. "We're experiencing an accelerating demand for our encoding services from large and small companies who recognize the proven value of cloud-based video encoding services versus managing expensive and inflexible on-premises solutions."
- see this release
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