SAN FRANCISCO, April 22, 2011 /PRNewswire/ -- Encoding.com, the world's largest and fastest video encoding service provider, today announced a $2 million infusion from current investors, led by Metamorphic Ventures. The funding will support a rapid expansion in the scale of Encoding.com's operations, in response to its growing customer base, now 1,700 customers, and the explosive acceptance of its new Vid.ly universal video URL service.
Current investors joining Metamorphic Ventures in the round are Patrick Condon, co-founder of Rackspace and active Angel investor; John Engates, CTO of Rackspace; and Dave Morgan, CEO of Simulmedia and founder of TACODA and Real Media.
"We were thrilled to see 500% growth in monthly recurring revenues in 2010 and have been blown away with the initial market response for our new Vid.ly service from leading media brands, agencies, and application developers," said Marc Michel, Managing Partner at Metamorphic VC and Encoding.com Board member. "By ensuring that videos can be viewed on all mobile devices and browsers in the market, Encoding.com is solving a critical pain point in the rapidly expanding broadband video services space."
"It's an exciting time for Encoding.com. We continue to execute well on our mission to be the shovel in the broadband video gold rush. We're experiencing an accelerating demand for our encoding services from large and small companies who recognize the proven value of cloud-based video encoding services versus managing expensive and inflexible on-premises solutions," said Jeff Malkin, president of Encoding.com. "This funding will help us continue to lead innovation in the video encoding services space, while enabling us to scale our customer acquisition efforts across big media and entertainment, agencies, online education, video platforms and video application developers worldwide."
Encoding.com, the world's largest video encoding service, powers over 1,700 companies, including leading brands across media and entertainment, eLearning, retail, telecommunications, lifestyle and advertising. Blending a flexible SaaS model with sophisticated integrations with the AWS and Rackspace cloud-computing platforms, Encoding.com enables publishers and developers to instantly scale, while eliminating expensive video infrastructure investments. Encoding.com supports all popular web and mobile formats, utilizing its proprietary Encoding Intelligence™ to accelerate processing, reduce errors and optimize video for any device. With over ten million encodes under its belt, Encoding.com is the only encoding service to offer service level guarantees. For ongoing Company updates, please see http://blog.encoding.com or follow @encodingdotcom on Twitter.