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| November 20, 2006 | Press Release |
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| RipCode Raises $7 Million in First-Round Funding |
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| Portfolio Company: RipCode |
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Internet Video Start-up Developing High-Performance Video Processing Technology
DALLAS & AUSTIN, Texas -- RipCode Inc. today announced that it has raised $7 million in first-round venture capital financing to develop new high-performance technologies for processing Internet video content. Hunt Ventures, Vesbridge Partners and El Dorado Ventures co-led the financing round, with participation by ATA Ventures.
Based in Dallas and Austin, RipCode is a video equipment manufacturer that develops products to accelerate the re-purposing of video content including Mobile TV, social networking video, and studio-based productions. The company is focused on eliminating the physical barriers now restricting content from being viewed on multiple viewing mediums.
"The explosive growth of Internet video is overwhelming the current technologies that handle video processing transactions," said RipCode CEO Brendon Mills, a serial entrepreneur who previously founded and led Plano, Texas-based GENBAND (General Bandwidth). "RipCode is bringing to market innovative technologies that will create new viewing choices for consumers while redefining the operational costs and processes for content owners."
"RipCode's video processing technology will clear a major roadblock to the migration of video onto multiple platforms such as PCs and cell phones," said Jeff Hinck, Senior Managing Director of Vesbridge Partners. "RipCode's technology should be of considerable interest to user-generated content sites, broadcasters, TV networks and mobile video content providers -- in short, anyone who wants to provide users with an optimal Internet video experience."
"Customer reaction to RipCode's value proposition has been well received," said Jeff Williams, Managing Director of Hunt Ventures. "The RipCode product line solves a critical problem in the video content value chain while enabling the ubiquitous viewing of IP video."
Hinck and Williams have joined RipCode's board, along with Scott Irwin, General Partner of El Dorado Ventures.
About RipCode
Based in Dallas and Austin, RipCode is a video equipment manufacturer that develops products to accelerate the re-purposing of Mobile TV, social networking video, and studio-based productions. The company is focused on lowering the physical barriers now restricting content from being viewed on multiples mediums. RipCode is privately held and backed by leading venture capital firms including Hunt Ventures, Vesbridge Partners, El Dorado Ventures and ATA Ventures. For more information, visit www.ripcode.com.
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