Digital-content firm InteliVideo raises $2.6M
Last Updated: 18:40 June 24, 2014
The funding round comes a little more than a year after InteliVideo launched with $375,000 in seed funding. InteliVideo's chief executive Brad Brown said local investors Jeff Jones, former chief financial officer of Vail Resorts, and Ray Croghan, a former Crocs Inc. board member, were two of the investors involved in the current round, which included about 20 investors in all, according to a filing made with the Securities and Exchange Commission.
InteliVideo, based at 12303 Airport Way in Broomfield, allows clients to create custom webpages where they can host their own videos, music, books or other content. The clientele ranges from independent content producers who might want to sell some educational videos in a particular area of expertise to large corporations who might conduct employee education or present quarterly reports through the platform.
Intelivideo's main target right now is the Direct Response Television segment, which includes companies that sell DVDs, like exercise videos, through televised infomercials. The thinking is that those companies could host their content on their own websites via Intelivideo's platform, and give customers access there rather than mailing out DVDs (or in combination with mailing out DVDs).
Brown said the service is different from other platforms for selling video content in that Intelivideo's clients will sell their content through their own sites and have access to all of the customer information. That's in contrast to selling through, say, the iTunes store.
"In our platform, it's the customer's brand, their customer, their data," Brown said. "They know who's watching and the up-sales as a result are considerably better."
Brown co-founded InteliVideo last year with Monty Sooter and John Hayward. Brown worked for Oracle in the 1980s before starting a consulting firm called TUSC, which sold in 2008. He also started and sold real estate valuation software as a service company IntelliReal in the 2000s. Sooter, meanwhile, is a former executive at Corporate Express and ClickBank, where he worked with Hayward.
InteliVideo has about 25 clients so far, a group that includes RunBare.com, The Dailey Method and UFC Fit. Brown is projecting about $1 million in revenue over the next 12 months, which he said is a significant increase from where sales have been so far.
The company has five employees and will be adding about five more during the coming year. Brown said much of the Series A funding will go toward building the company's marketing and sales teams and continuing to develop the technology and new functions.
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