Ferris Announces $2M Seed Funding
SANTA MONICA, CA, Mobile video company, today announced a $2 million seed financing round led by Upfront Ventures.
Ferris, a Los Angeles-based mobile video company, today announced a $2 million seed financing round led by Upfront Ventures, Los Angeles' largest venture capital fund. The round also includes participation from other investors including local video specialist Allen DeBevoise, the founder of Machinima. Mark Suster, Managing Partner, Upfront Ventures, has joined the board of directors.
'I see hundreds of video startup pitches but Ferris's product vision really stood out,' said Suster. 'I shoot video at my son's basketball game or snippets at my favorite concert. I watch others do the same yet most of this video rots on our mobile phones. Ferris creates a permanent cloud-based collection of important moments, experienced with others.'
Ferris recently launched an iPhone app that makes it easier for users to save and share the videos created on their phones. By seamlessly integrating multiple videos on related topics to form 'stories' of their experiences over time, Ferris creates an experience similar to a photo album. Using Ferris, contextually related videos can be viewed again and again - something that has never existed for personal mobile video. Whether it is keeping friends updated with the latest experiences of an ongoing road trip or instantly turning all of those birthday video clips into a singular and enjoyable story, Ferris has many uses for everyday people.
'We live in a world in which most user-created video is trapped on people's mobile phones,' said Paul Boukadakis, cofounder and CEO of Ferris. 'At best, we share a few of them with social networks but as the moment passes so, too, do our memories. We have created a 'photo album for your videos' so that these memories won't be lost and instead will be enjoyed for years to come.'
Ferris users can also easily collaborate on group stories, like a wedding, to capture the experience from all perspectives so that they don't miss a single moment. Ferris believes that as people experience life events, sports, concerts or just everyday moments, they need a better way to remember and share their stories.
For more information on Ferris and to download the iPhone app, visit ferris.tv or follow on Twitter @ferrisapp
People are able to remember and enjoy more of the moments from their lives with the Ferris app. Ferris is available for download from the Apple App Store. Ferris was founded in 2012 in Austin, TX. The company is now based in Santa Monica, CA.
About Upfront Ventures
Upfront Ventures is the largest and longest-serving venture capital fund in Los Angeles having invested more than $1 billion since 1996 in companies such as Maker Studios, TrueCar and Overture. While Upfront is a national investment firm, it invests at least 50% of its capital in Southern California based technology companies from San Diego to Santa Barbara.
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