Tout.com Closes $13.4 Million Financing
Financing from Strategic and Institutional Investors Accelerates Momentum for Leading Real-Time Video Status Update Application
SAN FRANCISCO, July 11, 2012 /PRNewswire/ -- Tout.com, a technology spin out from SRI (Stanford Research Institute), announced the completion of its $13.4 million series B financing. Tout, a smartphone and Web application that enables real-time video status updates, secured blue-chip investors including WWE®, 819 Capital, well-known institutional investor Gordon Crawford, and Stan Shuman & Jack Schneider from Allen & Co. They join previous investors including Stanford Research Institute (SRI), Horizons Ventures, and Seavest Ventures. The capital will be used to support the rapid growth of the company and further invest in new product development and international expansion.
"We've assembled a powerful group of enthusiastic, hands-on investors who recognize the paradigm shift we're seeing from a text-based to a visual – particularly video-centric -- online experience," said Michael Downing, CEO, Tout.com. "We're excited to build upon the success we've already had with high profile partners and take it to the next level by delivering powerful technology that both consumers and businesses will find incredibly useful."
Tout's platform for real-time video status updates provides the simplest shoot, share and watch experience, and transforms your smartphone into a real-time information network, delivering 15-second video updates around the people, news, and ideas that interest you the most. Media companies and influential personalities have embraced the platform as they look to engage in high impact ways with their audience. "Live! with Kelly," Wendy Williams, Ryan Seacrest, Erin Andrews, Dr. Oz, Jeff Probst and numerous news stations and major media networks including CBS, National Geographic Channel, CNBC's "Fast Money," C-SPAN, ESPN and even presidential candidate Mitt Romney are among the 23 million users, making it one of the fastest growing new social media services.
About Tout Industries
Headquartered in San Francisco, Tout is a social media technology company whose smartphone and web applications enable real-time video status updates that can be shared instantly with friends, family or the whole world through Facebook, Twitter, or even published to your own site via the Tout Widget and API. Tout enables users to capture and share 15-second videos with 2-clicks from the web, iPhone, iPad or Android smartphones. Tout is a technology spin-out of SRI (Stanford Research Institute), responsible for such innovations as intelligent personal assistant technology SIRI acquired by Apple. Since launch, Tout has had over 23 million visitors to its application, making it one of the fastest growing social media services. Visit www.tout.com or follow us on Facebook and on Twitter @Tout.
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