Updata Partners led a $10.5 million round to invest in VideoBlocks.com, the Reston, Virginia-based provider of stock video and audio clips. The company is already profitable and has delivered more than five million clips to its subscribers in 18 months. QED Investors also participated in the investment; specifics were not publicized.
RESTON, Va., Sep 06, 2012 VideoBlocks.com, the first subscription-based provider of unlimited royalty-free stock video and audio clips, today announced that it has closed a $10.5 million Series A investment led by Updata Partners with participation from QED Investors. Already profitable, VideoBlocks.com has delivered more than five million clips to subscribers in the last 18 months.
Video Blocks takes a unique approach to providing stock audio and video. The company owns all the rights to its content library and makes this available for an affordable monthly subscription rate, free of confusing licensing.
From aerial city views to high definition slow motion shots to royalty-free music, VideoBlocks.com content is used on many of the world’s best-known television and movie production networks in addition to a quickly growing audience of freelancers, small businesses, pro-sumers and home video enthusiasts.
In recognition of the company’s business success, Inc.com named VideoBlocks.com/Footage Firm the fourth fastest growing media company in 2012. Footage Firm is the parent company of VideoBlocks.com.
“We’re excited to offer so much value to our customers. Our innovative model allows us to provide unlimited access to high-quality content from our vast library without requiring complex licensing fees,” said Joel Holland, founder and Chief Executive Officer of Video Blocks. “This infusion of funding will further extend the incredible growth. We plan to aggressively acquire content with this investment, nearly doubling our library by the end of the year, to continue to build a resource professionals and pro-sumers alike prefer.”
As consumption of video increases, the stock video market continues to grow rapidly. To help its members create professional-quality content easily and affordably, VideoBlocks.com offers a quickly growing library of high-quality stock video, motion backgrounds, production music, After Effects templates, special effects, sound effects and more that can be used in all types of projects, royalty-free.
“The business model of VideoBlocks.com is highly disruptive and is changing the way stock video and audio is licensed,” said Carter Griffin of Updata Partners, a leading technology-focused growth equity firm. “The company is clearly poised for success as consumers flock to creating video on mobile phones and other devices and want to create high quality experiences to share. Joel Holland has a clear passion for helping content creators and has been instrumental in the incredible growth the company has seen. We are excited to help him fuel the growth of VideoBlocks.com.”
Over the past year, the company has been executing on its growth strategy, rapidly expanding its content library and growing its customer base. Subscribers have downloaded over 5,000,000 video clips, motion backgrounds, music tracks, special effects and more since the site launched in January 2011.
Video Blocks is the first subscription-based provider of stock video and audio, providing its members with unlimited download access to a vast, and growing, library of content. VideoBlocks.com offers unlimited access to over 50,000 clips of stock video, motion backgrounds, production music, editing templates, sound effects, special effects and more–all for the price of just one download at many competing sites. Customers range from leading television and movie production networks to pro-sumers and hobbyists looking to enhance their video projects and productions.
About Updata Partners
Updata Partners is a leading technology-focused growth equity firm with nearly $500 million of capital under management. Updata invests in high-growth software, internet, and technology-enabled services companies with innovative intellectual property and market-leading solutions. Led by an investment team averaging more than 20 years of experience in the technology industry, Updata seeks investments where the combination of the firm’s financial backing and the operating expertise of their partners will accelerate growth.
About QED Investors
QED Investors actively supports high-growth businesses that use information to compete. While their support is tailored to the specific needs of each portfolio company, QED Investors typically provide a combination of both capital and capability. With operationally-oriented skills that are both fundamentally applicable and broadly transferable, QED Investors works closely with a small set of carefully selected companies that range in size and style.