AmberFin
secures funding for further growth with Advent Venture Partners
September
23, 2010
Source: AmberFin AmberFin
announced it has secured additional investment from Advent Venture Partners, to
capitalise on the expanding demand for file based workflows. In
recent months, AmberFin secured strategic business in Europe, the US and Asia
Pacific, including ITFC, Sony Pictures Television Limited, Rainbow Media, RTL
Klub, and MTV3 Finland. In addition, AmberFin has successfully expanded its standalone
product line, launching a new range of Format and Standards Converters which have
already won sales in Germany, London, New York, South Africa, Norway, Switzerland
and a number of high profile trans-national sports broadcasters.
AmberFin
has also been active in three key industry initiatives to grow the file based
workflow market, the VCO Forum, the JPEG2000 alliance and the joint EBU/AMWA FIMS
project.
AmberFin CEO Jeremy Deaner comments: “This year has seen
a growing number of customers choosing to invest in file based workflows, as they
become increasingly interested in using architectures, technology and working
practices adopted from the IT industries. AmberFin is well placed to service this
growth business as our expertise and technology encompasses both existing Broadcast
video workflows and new IT centric working practices. We are increasingly seen
as "a company to watch”.
Recent independent market research
by In-Stat predicts that global revenues from enterprise-class multi-format transcoders
will grow almost three hundred per cent by 2014. Further research by Devoncroft
placed the AmberFin brand 4th highest in the industry in terms of positive change
in user perception, just trailing Apple, AJA and RED.
In addition to the
projected growth in the Transcode market, AmberFin has also established a significant
presence in the automated ingest market as well as an early presence in new growth
Broadcast markets such as automatic assisted quality control and file based standards
conversion. We are delighted in this new backing from Advent Venture Partners,
who share our business vision.”
Advent General Partner Peter Baines
comments “There are significant changes underway in the Broadcast and content
delivery sector, which are creating new opportunities for vendors who can cut
the costs of delivering content.
"AmberFin is perfectly positioned
as they understand not only what future IT workflows need to look like, but also
how customers can squeeze the most out of their current video infrastructure.
AmberFin is winning business both in systems and in products - a great platform
for future growth”.
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