Frame.io, the New York-based developer of a video review and collaboration platform for content creators, announced that it just raised $20 million in its Series B growth funding round.
FirstMark Capital led this round, with participation from prominent capitalists such as Accel Partners (return backers), SignalFire and Shasta Ventures.
The company, which has now raised a total of $32 million in funding, intends to use the capital to develop the core video review and collaboration product, cloud and content security, and the Frame.io developer ecosystem.
Started in 2014, Frame.io, which is also backed by Jared Leto and Kevin Spacey, serves leading media and entertainment companies such as TechCrunch, BBC, Vice, The Onion, Facebook and more.
With this funding the company will be making a big investment in the core product, with a significant focus on cloud and content security. The service is used by some of the world’s largest media corporations, so security is top of mind for leaders in the industry. As such, security has become a core pillar of the Frame.io product offering, and it will continue to expand, with features such as watermarking and a host of new security/compliance certifications, including MPAA. This investment in security will also extend to the inclusion of artificial intelligence and machine learning into the core and enterprise product roadmap. The new funding will also help Frame.io expand its rapidly growing team, which has doubled in the past year across the board.
With more than 370,000 users in more than 170 countries, Frame.io will be using this investment to enhance strategic product innovation, offering content creators a platform that connects the many different creative and publishing tools, stock services, asset management and storage systems, and many other specialty products involved in the business of creating videos.
“Artificial intelligence is going to play a huge role in Frame.io’s future,” said Matthew Ruttley, head of data at Frame.io. Ruttley spearheads the company’s data science initiatives. “Enterprise customers will benefit from a whole host of powerful, proprietary machine-learning systems. These apply to everything from streamlining video review workflows, to robust, all-important security features.”