September 22, 2009
Based in Milpitas, California, one of the United Statesâ€™ leading pioneers of video for mobile phones, Vuclip announced today that it has closed $6 million in series B funding lead by JAFCO Ventures. Other investors who participated in this round of funding include the companyâ€™s existing investor, New Enterprise Associates.
Vuclip has developed the one of the biggest video search engines for mobile phones. Furthermore, Vuclipâ€™s video portal is the only video portal that can transcode and transcribe all web videos to any mobile phone across almost any wireless network worldwide. The service that Vuclip is free, but carriers may charge the users of that particular service for bandwidth costs. Vuclip also allows publishers to publish their web video content through their white labeled Vuclip Video API program.
According to Vuclipâ€™s CEO and founder, Nickhil Jakatdar; Vuclipâ€™s service was built on a browser that address all the technical problems that some mobile phones might encounter with web videos. The solution that Vuclip offers gives media companies the opportunity to have a global audience and allows for the mobilization of these videos online.
To date, the service that Vuclip provides has already reached over 1,000,000 people in over 150 countries throughout the world. Vuclip also has many different partnerships with some of the worldâ€™s premium media and advertising companies. Advertisers can use Vuclip as a vehicle to reach millions of consumers.
Founded in 2003, JAFCO Ventures is a vc firm that has over $350 million under its management. The vc firm primarily invests in companies who are in the communications, internet, semiconductor, and software industries. JAFCO Ventures is based in Palo Alto, California and also has offices in Asia and invests in the United States, China, and Japan. Some other companies in JAFCOâ€™s portfolio include 41st Parameter, Aster Data Systems, Calypto, ClairMail, and others.
New Enterprise Associates, or NEA is one of the leading vc firms, whoâ€™s primary mission is helping entrepreneurs build new powerful enterprises. NEA was founded in 1978 and has several principles that it bases its investments on. The first principle that NEA bases its investments on is helping and supporting the entrepreneurs in whom the vc firm invests in. The second principle is to participate in the profession of the industries in which the vc firm invests in and earning the highest respect in the industry. Currently, NEA has over $8.5 billion of committed capital under its management. NEA also has offices in both China and India. Some other companies in NEAâ€™s portfolio include Amicus Therapeutics, 3Com, Actelis, Argon Networks, Ascend Networks, Astral Point Communications, and others.
For more information about Vuclip, click here.