Peepable raises $500k seed capital for new video search technology03rd June 2014
Video search startup Peepable today announced that it has raised just under $500,000 in seed funding from angel investors to develop and roll out video search technology.
Investors include San Francisco-based Stuart McLeod, founder of Paycycle and VP at Xero, and Adelaide-based investor Tony Fairbairn, the driving force behind the growth of e3Learning.
Peepable offers search technology that makes it easy for people to discover and share online video. It is the second startup for Nari Jennings and Alex French, who also co-founded and launched the award-winning accessibility technology firm, The Captioning Studio.
While rolling out new solutions for corporate clients that brought audio content to the hearing impaired in 2012, they realised that we are all missing out on a whole world of video content because of a lack of suitable technologies.
“There is no real, easy-to-use tool for people who want to find video online. What is available is either clunky, hard to use or doesn’t have the video content you want”, said Peepable co-founder Nari Jennings.
“Peepable will make video as searchable and shareable as the written word.”
By 2017, it is estimated that it would take someone over five million years to watch the amount of video being transmitted online every month. In 2017, online video in all forms will account for over 80 percent of internet traffic, with a million minutes of video content crossing the network every second.
Founder of Paycycle and VP at Xero, Stuart McLeod, commented: “In the small business world, video is exploding as an online communications medium. But as we continue to create staggering amounts of content, we are less and less able to find exactly what it is we want to see. Peepable has both a highly sophisticated technology platform and a management team with the expertise and background to launch to market. Having been introduced to the team at ANZ Innovyz START, I am excited to be involved in a project that has the potential to change how people interact with online video.”
Also joining the Peepable team will be advisory board members Peter Vroom of Vroom & Associates, start-up expert, and Ashford Pritchard, Group Account Director at PR and Communications agency Launch Group.