Motionbox, a New York-based video sharing and storage website for families, has raised $7 million in Series B funding. Constellation Ventures led the round, and was joined by return backers Canaan Partners and SAS Investors.
Motionbox (www.motionbox.com), the family video site that makes it easy for consumers to store, mix and share their personal videos, today announced that it has closed a $7 million Series B round of funding, led by new investor Constellation Ventures, a unit of Bear Stearns Asset Management. Also participating were Motionbox Series A investors Canaan Partners and SAS Investors. The Series B round will fund the marketing and product development of the company’s new services and products. On November 13, Motionbox launched Motionbox Premium, the new subscription service that includes unlimited storage and TV-quality downloads, and Motionbooks, new video flipbooks you can make with your personal videos.
“More people are realizing how easy it can be to share their personal video with family and friends in the same way that they share photos,” said Chris O’Brien, Motionbox co-founder and CEO. “We provide families with the most comprehensive, secure solution for preserving, sharing and enjoying their personal video memories and have enhanced our offering with the new premium service. This new round of funding will enable us to continue to build our premium service through strategic partnerships and aggressive marketing efforts.”
Motionbox launched its free service in 2006, taking the first step in changing the way consumers stored, shared, and consumed their personal video by combining the power of cutting-edge online video tools with a simple and easy to use web interface. With the launch of the premium service and Motionbooks, Motionbox represents the next step in the strategy to monetize online video through products and subscription options.
“Today there are more options than ever for taking video with HD camcorders and digital cameras, but until now there hasn’t been a simple and secure solution for families to be able to share and enjoy those video memories.” said Warren Lee, who led Canaan Partner’s investment in the Series A and participation in the Series B. “The Motionbox web site provides the privacy options and control parents need while Motionbox’s underlying video technology delivers high-quality archival storage with video downloads so that people can watch their videos on multiple devices like the iPod and TV.”
Motionbox provides families with a powerful and comprehensive set of online tools, which allow them to easily upload, manage, store, and share their personal video memories. Consumers choose between two membership options, free with limited storage, mixing and uploading capabilities and premium with unlimited storage, downloadable options. Motionbox also offers hard-good products that allow consumers to enjoy personal videos beyond devices and computers. Based in New York City, Motionbox was founded by media and technology industry veterans with years of experience in streaming media, social networking and subscription Internet products. Visit http://www.motionbox.com for more information.