New York startup Animoto is announcing today that it raised $4.4 million, largely from Seattle’s Madrona Venture Group.
Animoto offers a Web-delivered service that converts photos and music into polished videos. After nearly two years in business it’s cash-flow positive with more than 100,000 consumer and commercial customers.
“They make really high end multimedia storytelling and multimedia production super easy and accessible to the masses,” said Matt McIlwain, Madrona’s managing director.
It may seem far afield for Northwest-focused Madrona, but Animoto is practically a local company, McIlwain noted.
Animoto was started by a group of Bellevue High School graduates who went on to work in New York’s media industry and it received initial funding from Seattle-area angle investors.
McIlwain said Animoto is planning to open a Seattle office but will keep its headquarters in New York and a satellite office in San Francisco.
Also participating in the funding round are SoftTech VC and Bruce Livingstone, founder of iStockphoto.