Spiffy slideshow creation platform Animoto has raised $4.4 million in Series B funding in a round led by Madrona Venture Group and including SoftTech VC, Bruce Livingstone and Amazon. That brings the company’s total funding to $9.5 million, including a Series A of $500,000 $5 million, including a Series A of $600,000 and debt financing from Amazon. Update: We had the total amount wrong, because much of the previous funding was actually rolled into this round rather than comprising a separate one.
New York-based Animoto, which has 18 employees, has been cash-flow positive on a monthly basis since December, according to CEO Brad Jefferson. He said the new funding would be used to accelerate product development, explore distribution possibilities with photo-sharing sites, and make new hires.
Animoto has 750,000 registered users, of which 10 percent have paid for a premium product, which include consumer and professional subscriptions as well as DVD purchases. The company’s specialty is animating a set of photos to practically dance to the music through its analysis of song structure. It’s a whole lot cooler than your average slideshow. Next up, said Jefferson, is making the software smarter by adding features such as facial detection.
And, perhaps most interestingly for NewTeeVee readers, the company will also allow for the incorporation of videos in the near future, said Jefferson. Embedded above is a preview of what that will look like from the Webby Awards, where Animoto won best services and applications web site this year.