AmberFin secures funding for further growth
London, 10th September 2010 – AmberFin announced today 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, Technicolor, 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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About AmberFin
AmberFin enables content owners to maximise the value of their TV, film and video content, from capture through to distribution, while increasing revenues, reducing costs, saving time and eliminating incompatibility issues. AmberFin iCR, with four-time Emmy-award winning technology, plays a key role in turning the content that owners have into the content their customers want. As an open standard, future proof platform that digitises and transforms new and archived content, AmberFin iCR delivers the best quality pictures at smaller file sizes across multiple delivery platforms, including the Internet, VoD, TV, mobile and other small screen devices. AmberFin already has 100s of iCR systems in the field, and is trusted by some of the world’s most prestigious companies including Sony, NBA, Ascent Media,Turner Broadcasting, BT, RTM, NRK, Red Bull Media, National Geographic and Warner Brothers, managing the digitization and repurposing of their content.
Privately held by Advent Venture Partners, AmberFin is headquartered in Basingstoke, UK. More information is available at: www.amberfin.com
About Advent Venture Partners
Advent Venture Partners is one of Europe’s most established venture and growth capital firms, investing in world-class technology and life sciences businesses. Advent seek out remarkable companies that want a pragmatic and well-connected partner by their side and are dedicated to executing a balanced investment strategy delivering consistent returns for investors. Advent’s technology team backs leading European technology-driven growth businesses in Internet, digital media, software and services, telecoms, and cleantech. Team investments include: Zong, a leading mobile payments solutions provider; Qype, Europe’s largest local search and review site; and The Foundry, a buyout of the Academy Award winning global visual effects software vendor for the post-production industry. www.adventventures.com
AmberFin editorial contacts
Tim Bond (UK)
Hotwire for AmberFin
amberfin@hotwirepr.com
+44 (0) 207 608 4642