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WeVideo Secures $19.2M in FundingCrest Capital Ventures Sees Compelling Advantages in Cloud-Based Collaborative Video Editing (April 24, 2012)
SUNNYVALE, CA -- (Marketwire) -- 04/24/12 -- WeVideo (www.wevideo.com), creators of the world's most powerful and easy-to-use online video editing platform, today announced that it has secured $19.2M in a Series A funding round, led by Crest Capital Ventures of Houston, TX. The additional funding will help WeVideo to position the company as a global leader in the online video creation space for both consumers and businesses.
The new funding comes on the heels of a number of recent product and partnership announcements involving WeVideo, including its integration with YouTube, its commercial product launch, its partnership with the Qatar Foundation International (www.qfi.org), its adoption by Startup Idol and the TechZulu news organization, the development and launch of a power video editing app for Android tablets, and "tag & bag" creation of broadcast promos.
"Cloud-based collaborative video editing offers compelling advantages over conventional solutions," said Jason Woods, President of Crest Capital Ventures. "We believe WeVideo's unique technology makes it well-positioned to define and lead a new business space."
"We are delighted to announce that we have secured $19.2M in a Series A funding round, thanks to Crest Capital Ventures," said Jostein Svendsen, WeVideo co-founder and CEO. "Of all our recent announcements this may be our most significant, as it helps us to realize an ambitious roadmap and partnership program to establish the world's leading platform for online video editing and creation."
Based in Sunnyvale, CA, WeVideo eliminates the cost and complexity of collaborative video publishing with powerful, easy-to-use web-based tools. Founded in 2011 by Norwegian-based Inspera, WeVideo leverages years of developing online video learning experiences for K-12 students. To learn more about cloud-based video collaboration, please visit www.wevideo.com.
About Crest Capital Ventures
Crest Capital Ventures, based in Houston, TX, provides funding for software and related technology companies. For more information, visit www.crestcv.com.
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