I’m very pleased to announce that Animoto has raised $25M in new funding! I had the opportunity to break the news to our team just a few days ago (see picture below) and we couldn’t be more excited. I’ll spare you the video clip of the little dance I did in front of the team to celebrate…
The reason we’re so excited is because the financing means we now have the capital to ensure we can deliver on the vision we set out to achieve nearly five years ago. We’ve done a lot with $5M of investment; imagine what we can do with $25M!
From a product perspective, we’re very focused on making videos even easier to create and even more amazing to watch. In terms of new product plans, we are closed-lipped for now but, as a hint, we feel that Animoto is uniquely suited to capitalize on the imminent convergence of photos, videos, mobile and the digital living room.
With regard to Animoto.com, we have a solid list of improvements we’re actively working through – including highly requested features like allowing multi-song support and 1080p rendering – and while these improvements take time I think you’re going to like the direction we’re taking the product in the near future.
In case you’re interested in hearing more details of the financing, our lead investor is Spectrum Equity Investors and existing investors Madrona Venture Group and Amazon.com also participated. Spectrum’s Ben Spero will join the Animoto board of directors. Ben also sits on the boards of Spectrum’s portfolio companies Ancestry.com, SurveyMonkey and SeamlessWeb. Welcome Ben!
Thank you for continuing to inspire us and for spreading the word about Animoto!
P.S. we have a revamped careers page in case you want to learn more about working for Animoto and the 20+ jobs we have open: http://animoto.com/about/careers