Video optimization provider Beamr has closed a $9.5 million financing round led by venture capital firms Marker LLC and Google chairman Eric Schmidt's Innovation Endeavors.
Beamr is headquartered in Tel Aviv and was founded in 2009 by CEO Sharon Carmel. Beamr is focused on improving the quality, speed, and user experience of photo and video sharing.
Carmel said, "Beamr has developed a strong IP portfolio and established a strong customer base within the world's largest media companies. We are thankful to Marker and Innovation Endeavors for helping us realize the company's vision of reducing the cost and improving the user experience of media delivery to any device over any network."
Beamr's video optimization technology reduces the bitrate of H.264 video streams by up to 50%, without affecting perceptual quality or altering the format of the original stream. Beamr Video enables smoother delivery of HD video over existing mobile and broadband connections, and significant cost savings to content distributors, OTT service providers, and network operators.
The technology has been installed at Hollywood's major studios, and commercial deployment is expected soon.
The company plans to use the investment funds from this financing round to accelerate the development of its Ultra-HD and HEVC optimization technologies that will enable "over-the-top" streaming of Ultra-HD (4K) content to broadband-connected consumers.
Beamr also plans to expand its marketing and sales activities in the US and globally.
Published by Globes [online], Israel business news - www.globes-online.com - on April 8, 2014
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