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Pixable Closes $3.6 Million Series B FinancingFunding Led by Menlo Ventures Along With Highland Capital Partners Coincides With 500,000 User Mark (April 22, 2011)
NEW YORK, NY -- (Marketwire) -- 04/22/11 -- Pixable (www.pixable.com), the destination to discover and enjoy social photos, announced it has closed $3.6 million in series B financing, led by Menlo Ventures, a Silicon Valley firm with investments in other well known consumer Internet companies such as MOG, IMVU, Roku, Flurry, and SpeedDate. Highland Capital Partners also participates in the round continuing its support of the quickly growing company.
The funds will be used to further scale the company's engineering team and infrastructure to manage the increasing traffic across multiple platforms, including Web, iPad, iPhone, and Android devices. Pixable will soon integrate video into its Photofeed app by categorizing and ranking videos your friends are watching and sharing on Facebook and Twitter.
"Menlo Ventures is well known among the technology industry for its ability to spot new trends and winning companies, and we are pleased to have their support," said Inaki Berenguer, CEO, Pixable. "With billions of photos shared online every day, and a new generation of photo-related startups flooding the market, it's easy to miss the photos that are most important to you. We look forward to building Pixable into the destination for managing photo and soon video overload through a unique discovery and viewing experience on the iPhone, iPad and the Web."
Since its launch in January, Pixable Photofeed has added photo sources such as Instagram and Flickr, debuted iPad and iPhone versions of its app, and sorted and ranked over 10 billion photos for its 500,000 users. Pixable closed a $2.5 million series A financing, led by Highland Capital Partners, in June of 2010.
"The amount of content to sift through on the Internet is staggering, with incremental terabytes being created and uploaded by the second," said Shawn Carolan, Managing Director at Menlo Ventures. "Search alone is not the solution, nor is simply watching your feeds flow by. Pixable's holistic approach to personalized media discovery is compelling, and we're excited to support them in this bold quest."
The heart of Pixable's service is its WonderRank technology, which automatically analyzes dozens of variables related to a user's tastes and preferences, to act as a personal "bot" scouring Facebook and other sources for the photos and videos that users will find most interesting. This targeted experience is enhanced by the ability to "follow" friends, and receive notifications when they comment on, are tagged in, or upload new photos and videos. This is key for anyone looking to keep up with happenings in their social circle like parties, weddings, newborn babies, or travel adventures.
Pixable helps its users aggregate and organize photos and videos from a variety content sharing sites across their networks, with plans to add more sources in the future. To access Pixable Photofeed, visit the itunes store, http://apps.facebook.com/pixable or www.pixable.com.
Founded in 2009 with roots at MIT, New York-based Pixable has already enabled over a million users to discover and enjoy their photos. It is the best destination to browse, search, and enjoy photos on social networks. The company has been featured in The New York Times, BBC, Newsweek and CNN, and has been highlighted as one of the coolest companies to work for by Time Out Magazine. For more information, visit www.pixable.com. Photofeed is available online and on the iTunes store for the iPhone and iPad.
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