Press Releases
RipCode Secures $7 Million in Venture Capital Financing
Internet Video Start-up Developing High-Performance Video Processing Technology
DALLAS and AUSTIN, Texas (November 14, 2006) – RipCode Inc. today announced that it has raised $7 million in first-round venture capital financing to develop new high-performance technologies for processing Internet video content. Hunt Ventures, Vesbridge Partners and El Dorado Ventures co-led the financing round, with participation by ATA Ventures.
Based in Dallas and Austin, RipCode is a video equipment manufacturer that develops products to accelerate the re-purposing of video content including Mobile TV, social networking video, and studio-based productions. The company is focused on eliminating the physical barriers now restricting content from being viewed on multiple viewing mediums.
“The explosive growth of Internet video is overwhelming the current technologies that handle video processing transactions,” said RipCode CEO Brendon Mills, a serial entrepreneur who previously founded and led Plano, Texas-based GENBAND (General Bandwidth). “RipCode is bringing to market innovative technologies that will create new viewing choices for consumers while redefining the operational costs and processes for content owners.”
“RipCode’s video processing technology will clear a major roadblock to the migration of video onto multiple platforms such as PCs and cell phones,” said Jeff Hinck, Senior Managing Director of Vesbridge Partners. “RipCode’s technology should be of considerable interest to user-generated content sites, broadcasters, TV networks and mobile video content providers – in short, anyone who wants to provide users with an optimal Internet video experience.”
”Customer reaction to RipCode’s value proposition has been well received,” said Jeff Williams, Managing Director of Hunt Ventures. “The RipCode product line solves a critical problem in the video content value chain while enabling the ubiquitous viewing of IP video.”
Hinck and Williams have joined RipCode’s board, along with Scott Irwin, General Partner of El Dorado Ventures.
About Hunt Ventures
Hunt Ventures, LP is a venture capital firm focused on investing in early-stage technology companies. Hunt Ventures’ initial investment amounts typically range from $500,000 to $4 million with additional capital available to support future expansion. Hunt Ventures has offices in Dallas and Austin and invests on a national basis with a particular focus on the Texas region. Hunt Ventures has invested across multiple industry sectors including software, communications, and semiconductors. Beyond its capital investment, Hunt Ventures actively works with entrepreneurs to build great companies that address unmet needs in the marketplace. Hunt Ventures is part of the group of privately held companies that are wholly owned subsidiaries of Hunt Consolidated, Inc. ("HCI"). For more information please visit www.huntventures.com.
About Vesbridge Partners
Vesbridge Partners thrives on helping early-stage, leading-edge networking and IT infrastructure companies bring their software and service platforms to enterprise and carrier markets. Vesbridge Partners, headquartered in Boston, Mass., has a long history as part of St. Paul Venture Capital (SPVC), a well established early-stage venture capital firm with a strong track record over the past 15 years of helping finance some of the industry’s most successful technology companies. Additional information can be found at the firm's website at www.vesbridge.com.
About El Dorado Ventures
El Dorado Ventures (EDV) is a leading entrepreneur-focused, early-stage venture capital firm with a 20-year history of success. Entrepreneurs see EDV as a trusted investment partner who shares their vision and helps them succeed by providing ongoing strategic guidance and access to a wealth of industry contacts. With $750 million in capital under management, the firm invests across the information technology spectrum, from semiconductors and systems to communications, software and services, targeting both consumers and the enterprise. El Dorado's early-stage investments have included Cyras Systems, EarthLink, Efficient Networks, Novellus and NuSpeed Internet Systems. Numerous EDV portfolio companies have gone public or been acquired by major technology companies including Ciena, Cisco Systems, nVidia, Siemens, Texas Instruments and Yahoo. For more information, please visit www.eldorado.com.
About ATA Ventures
ATA Ventures ("a team approach") is a venture capital firm focused on seeking out early stage private companies which appear to offer above average prospects for capital growth. With over $350 Million of capital under management, ATA Ventures focuses on Information Technology (IT) and provides seed capital and early stages of financing. For more information, please visit www.ataventures.com.
About RipCode
Based in Dallas and Austin, RipCode is a video equipment manufacturer that develops products to accelerate the re-purposing of Mobile TV, social networking video, and studio-based productions. The company is focused on lowering the physical barriers now restricting content from being viewed on multiple viewing mediums. RipCode is privately held and backed by leading venture capital firms including Hunt Ventures, Vesbridge Partners, El Dorado Ventures and ATA Ventures. For more information, visit www.ripcode.com.
All product and company names may be trademarks or their respective owners.
Contact Information:
Public Relations
RipCode, Inc.
972-616-8930
