HOLMDEL, N.J., Oct. 4, 2016 /PRNewswire/ -- Vydia, a NJ-based video technology company, has announced that it has completed a Seed round of funding that consisted of $1.15M new money raised, in addition to $765k previously acquired from convertible debt. The round was lead by Connected VC with participation from Newark Venture Partners, Pasadena Angel Group and other strategic individual investors. As a result of this round, Joe Sparacio, former Financial Executive at IMAX, and Jay Bhatti, Co-Founder of spock.com, will join the board of directors. The investment will include the expansion of a Newark office and support the on-boarding of many key team members as Vydia continues to scale to meet global demand. The funds will also help accelerate dynamic product development and stimulate new marketing efforts.
Launching in late 2013, Vydia has gained major momentum on an already profitable platform, doubling in growth over the past few years. The Vydia platform empowers content creators to protect, manage, promote and monetize their videos through a variety of tools. Currently, Vydia's user base is primarily music artists, but following the close of this round, Vydia is building a reinvented version of the platform that will support a wider array of video content.
"Our mission is to help innovative startups, like Vydia, achieve rapid growth and stimulate the expanding technology community in Newark, New Jersey," stated Dan Borok, Managing Partner at Newark Venture Partners. "We believe that Vydia has built impressive momentum in the video landscape and are looking forward to helping them capitalize on it."
"The video monetization and distribution space continues to fragment, allowing Vydia to take advantage of the opportunity to be the universal, one-stop solution for video creators," explains Roy LaManna, Founder and CEO of Vydia. "With the technology we've built and the expert team here to assist our users with monetization and distribution, Vydia is making it easier than ever for content creators to find success."
VYDIA, Inc. is New Jersey's premier video tech startup that provides musicians the ability to monetize, promote, and distribute their video content. The Vydia marketplace serves an array of over 100,000 users including Grammy award winning artists like Jimmy Buffett, Joss Stone, and Def Leppard and breakout discovery acts like Andy Grammer, Fetty Wap and AJR. To learn more about Vydia, please visit vydia.com
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SOURCE Vydia, Inc.