New York-based video editing software developer Frame.io Inc. has raised a $50 million Series C round and will use part of the funding to gain a foothold in the L.A. market.
Frame.io said Nov. 25 that it will establish an office and showroom space in Hollywood. The company plans to increase its headcount to 240 next year, up from 110, Chief Executive Emery Wells said in a statement.
“Frame.io is headquartered in NYC, but Hollywood is the center of the media universe,” Wells said. “Next year, we will open an incredible space to not only house our L.A.-based employees, but also to host community events on a regular basis.”
Funds will also be used to enhance the platform’s data storage and security.
Co-founded in 2014 by post-production editor Wells and Chief Technology Officer John Traver, Frame.io’s software is designed for collaborative cloud-based video editing and production.
“Frame.io was born out of the real filmmaking and post-production DNA that lets us stay authentically connected to the needs of the industry,” said Wells.
Frame.io has raised roughly $82.2 million to date. Its investors include Palo Alto-based venture firm Accel Partners and San Francisco-based venture investors Signalfire Management Services.
The company is also backed by angel investors including former Warner Bros. Entertainment Inc. President Greg Silverman and actors Kevin Spacey and Jared Leto.
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