June 1, 2009

Grab Networks Grabs $12M

Grab Networks, created from the merger of Anystream and Voxant in September of 2008, announced it had closed a $12MM round of debt and equity funding from its existing investors, which include Softbank Capital, SCP Capital, Longworth Venture Partners, and Court Square Partners. It also announced the addition of Horizon Technology Finance to lead the venture debt portion of the round.

Grab Networks is in a unique category of companies that is able to pull together the power of software, distribution and content into a single solution that will enable the next generation of video distribution and monetization on the web. Less than 15% of professional video ever makes it to the web, and most of it is not monetized to its potential. "We felt strongly that to tackle this problem some company had to step up and bring together massively scalable software solutions, with massively scalable licensed content that could be syndicated across the broader web and monetized by the biggest advertisers. Only then could we finally help media companies generate digital dollars, not just digital pennies. That cannot be done without a whole new video infrastructure on the web, not just for advertising but video itself," explains Grab Networks CEO Fred Singer.

Adding to its growing roster of over 700 clients, Grab Networks continues to deploy its video production and syndication services across the world's leading media companies. This new funding will be used to further the company's market expansion of the grabMediaOS(TM), an end-to-end suite of hosted services backed by its industry-leading enterprise products that links together media companies, publishers, and advertisers to power multi-outlet video syndication. The company will also continue to invest heavily in its leading multi-variate video indexing technology and the growth of its ad network.

"The concept of 'Create Once, Publish Anywhere' is more important than ever given the dynamics in the media industry today," explains Steve Murray, Partner at Softbank Capital. "We're witnessing unparalleled growth in options for producing, distributing and consuming video at new properties with new revenue models. Grab Networks' indexing and syndication solutions enable media companies to efficiently unlock additional value from their content."

back