Video collaboration startup Frame.io has raised $50 million in a new round of funding, the company announced this week.
The Series C round was led by Insight Partners, with participation from existing investors like Shasta Ventures and SignalFire.
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Frame.io addresses workflow pain points in video production by allowing video creators to upload and collaborate on projects through the cloud. It integrates with programs like Adobe Premiere Pro, Avid, and Final Cut Pro–some of the most popular editing software for video production.
The company, which is based in New York, will use the new funding to invest in security, user experience, and “camera-to-cutting room technology,” according to a statement from Frame.io. It will double its engineering, product, and design teams, and the company has plans to open an office in Los Angeles in 2020 to be closer to another production hub–Hollywood.
Itai Tsiddon, co-founder of Lightricks, will also join Frame.io’s board of directors and represent Insight Partners. Michael Cioni recently joined the company as Global SVP of Innovation, and will be based in the planned Los Angeles office as the company expands into the movie and television industry.
The company has now raised $82.2 million in total funding, and counts Accel and FirstMark as investors, according to Crunchbase.
“2019 has been a year of massive growth and major milestones for us: we celebrated reaching 100 employees, moved into brand new headquarters in lower Manhattan and, most recently, welcomed industry veteran Michael Cioni to the team,” CEO Emery Wells said in a statement. “We are driving to create the most innovative workflows since the emergence of digital 20 years ago.”
More than one million filmmakers use Frame.io for production, according to the company, and it counts BuzzFeed, Vice Media, and Turner Broadcasting as customers.
Illustration Credit: Li-Anne Dias
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