Frame.io Raises a $50M Series C to Reinvent Video Collaboration
Frame.io will continue to invest in cloud-enabled workflows with $50 million in funding led by Insight Partners. Itai Tsiddon, co-founder of Lightricks, joins Frame.io's Board of Directors.
NEW YORK, Nov. 25, 2019 /PRNewswire/ -- Frame.io, a leading video review and collaboration platform used by over one million filmmakers and media professionals, today announced it has raised a $50 million Series C round to help support its next big push into cloud-enabled motion picture workflows. Frame.io will also use this round of financing to continue its deep investment into airtight security, intuitive UX, and camera-to-cutting room technology. Insight Partners led the round with contributions from all existing major stakeholders, including Accel, FirstMark, SignalFire, and Shasta Ventures. Itai Tsiddon, co-founder of Lightricks, will represent Insight Partners as Frame.io's newest board member.
"We're thrilled to be partnering with Insight on this next round of financing. Insight deeply understands the creative space and the changing tides the film and video market will see over the next several years," said Emery Wells, co-founder and CEO of Frame.io. "2019 has been a year of massive growth and of major milestones for us: we celebrated reaching 100 employees, moved into brand new headquarters in lower Manhattan and, most recently, welcomed industry veteran Michael Cioni to the team. We are driving to create the most innovative approach to video workflows since the emergence of digital 20 years ago."
Designed and built by video creatives—for video creatives—and launched in 2014, Frame.io is a New York City-based startup dedicated to changing the way video creation works. The web-based platform integrates seamlessly with the industry's leading NLEs, including Adobe® Premiere® Pro, Avid, Apple® Final Cut Pro® and DaVinci Resolve Studio, enabling video creators to upload and organize media and share projects internally or with clients anywhere in the world. This round of Series C funding brings Frame.io's total funding to date to $82.2 million.
"Frame.io is well positioned to solve some of the industry's greatest needs and has consistently delivered a product that its users find indispensable," said Jeff Lieberman, Managing Director at Insight Partners. "We're excited to lead their Series C and proud to partner with a company that we believe will help pioneer the next great change in Hollywood and beyond."
Frame.io is founded on the product-first principle, focusing on designing a tool that customers love to use. As the professional filmmaking process has undergone significant changes, Frame.io has evolved its product to address the demands for agility and speed in video production. With the Series C funding, Frame.io will double its product, design, and engineering teams to expand on those key components. Security efforts, always central to their business model, will remain a primary focus in the ongoing effort to make Frame.io the most trusted video platform in the industry.
Also notable in the push to develop cloud-based workflows for motion pictures and television is the recent appointment of Michael Cioni as Global SVP of Innovation. Cioni will oversee the camera-to-cloud effort from the new Frame.io office opening in Los Angeles in 2020, which will allow the company to better service the Hollywood-based production community.
Since its start, Frame.io has become an integral part of the workflow for large-scale customers like VICE Media, BuzzFeed, Facebook, and Turner Broadcasting, helping them achieve 60 percent greater efficiency. Frame.io customers are 41 percent more likely to hit project deadlines, with 39 percent more videos produced monthly on average, resulting in significant cost savings and revenue increases.
As video creation across all businesses continues to expand exponentially, Frame.io is poised to cement its place as an industry leader. Wells said, "The next decade will open up tremendous opportunities for anyone who's ready and willing to take advantage of the new video workflows. Frame.io was born out of the real filmmaking DNA that authentically connects us to the industry needs. And we're innovating to solve the massive workflow challenges that we've lived and know that filmmakers face every day."
About Frame.io
Frame.io is the world's leading cloud-based video collaboration platform, designed to streamline the video creation process by centralizing all media assets—and all feedback—in one secure place that's easily accessible from anywhere in the world. Frame.io integrates with most major professional video tools, acting as the connective tissue of the entire video ecosystem, no matter the scale. Conceived and designed by video creators, the UI is intuitive and simple for both highly technical professionals and less-technical clients to use with little (or no) training. The world's leading creators and innovators trust Frame.io every day to help power their video workflows, including Turner Broadcasting, Disney, NASA, Snapchat, BBC, BuzzFeed, TED, Adobe, Udemy, Google, Fox Sports, Media Monks, Ogilvy and VICE Media.
Frame.io's purpose is to allow all the contributors and participants in the video creation process to collaborate as if they're all in the same room, no matter their physical location, accelerating workflows and eliminating obstacles to creativity. From script or storyboard to dailies to delivery, Frame.io redefines the modern video workflow.
Frame.io is backed by industry heavyweights including Accel, FirstMark Capital, SignalFire, and Shasta Ventures. Insight Partners recently led their series C of $50M. To learn more please visit http://frame.io. Watch: What is Frame.io?
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight currently has over $20 billion of assets under management and has cumulatively invested in more than 300 companies worldwide. Our mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. Across our people and our portfolio, we encourage a culture around a core belief: growth equals opportunity. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.
SOURCE Frame.io
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