In what amounts to another vote of confidence from business and financial communities for self-serve video ad production, StudioNow has received $2.38 million in private equity. Funding came from existing investor Claritas Capital plus Clayton Associates. This adds to the $1.68 million it received last June, bringing its Series A round to a total of $4.1 million.
The company was founded in January ’07 as a self-serve video production product that also has a social element of connecting businesses with video professionals. In that way it has elements of Mixpo, AdFare and WellcomeMat — all companies we’ve profiled recently.
Like these companies, StudioNow has realized the opportunity in SMB-produced video that is targeted locally. This was most recently shown through its channel partnership with Clear Channel, which equips the radio giant with a video ad production tool to resell to its base of local advertisers.
I’m scheduled to talk to StudioNow execs tomorrow about the funding, the company’s general model and its intended directions. Stay tuned.