Online video broadcasting service Veodia has raised a $8.3 million first round designed to support the company’s marketing and technology. Investors included Clearstone Venture Partners, the D. E. Shaw group, and an angel group led by iParadigms chairman Steven Berger.
San Mateo, CA.-based Veodia was incorporated in January 2006 and launched in April 2007; it’s aimed at Fortune 2,000 businesses interested in lower costs. I spoke with founder and CEO Guillaume Cohen, the former head of enterprise business for digital video conference company Envivio, who explained: “My background involved selling large companies the tools they needed for creating in-house IPTV. They would have to go to different vendors to manage their videos, publish it, distribute it. Typically, it was a two-year process and cost millions of dollars.” Instead, Veodia offers a software solution for in-house creation and browser-based distribution.