Company raises money, will create IT jobs in Boston
Posted on April 9, 2012
London-based Aframe, the cloud video production platform, has announced that the company has launched its service in North America and will be creating IT jobs in Boston.
Aframe has established operations in Boston, New York, and Los Angeles where it has deployed the companys private cloud infrastructure to support its growing US client list.
The move gives Aframe local presence in the worlds top three global production centers London, New York, and LA where data centers provide the ingest and high-speed upload facilities to meet the needs of major video production, feature film, advertising and corporate projects.
Fuelling the companys expansion is a new $7 million Series A round of venture capital funding, provided by Octopus Investments (Octopus) and Eden Ventures, with participation by existing investor, Northstar Ventures.
Aframe also named Mark Overington, part of the founding team at Avid Technology and its former head of marketing, as president of Aframe North America. While at Avid, Overington grew the company from an idea to $500 million in revenues, and established Avids nonlinear editing platform as the catalyst behind the industrys shift from editing as cutting tape into editing as a fully digital process.
Aframe was co-founded by David Peto, a former founder of a London post production facility with a belief that making video should be about talent, not technology. With Aframe and the power of cloud computing, users can share, search and collaborate without on-site equipment or full-time staff, and only requiring an internet connection. As the video production industry embraces another transformational shift to cloud computing and away from costly purchases of on-premises solutions Aframes new funding and expansion into North America positions the company for growth.