Videon, a State College, PA-based leader in edge computing for video, raised $7.3m in Series A funding.
The round was led by Voyager Capital with participation from Arnold Venture Group and technology executive, investor, and former Adobe Systems CEO, Bruce Chizen.
The company intends to use the funds to expand its senior leadership, engineering, marketing, and sales teams, to bring its video compute platform to more customers worldwide.
Led by newly added CEO Rob Green, Videon provides a live video encoding, streaming, and edge computing platform built around on-chip video processing capabilities. It enhanced the use of the compute and video processing power of the Qualcomm Snapdragon chips typically used for the most advanced smartphone solutions and developed IP that uses this power to enable broadcast-quality workflows.
Working closely with a partner ecosystem that includes Akamai, AWS, Mux, and Vimeo, Videon’s technology is used in 19 countries handling tens of thousands of hours of content each day — ranging from live sports and news for TV broadcasters secondary output to vertical markets such as betting, auction houses, emergency services, drones, and hundreds of other use cases. Customers include LiveX, Techex, and major broadcasters, and top sports leagues.