Denver, CO, August 16, 2004 - Thought Equity, a leader of
video management and stock footage licensing services, announced
today that the company has closed its series B financing of $7.2
million in angel funding.
Thought Equity's infrastructure facilitates the real-time search,
preview and delivery of video-based digital assets. The company's
core video management service allows holders of large motion footage
libraries to organize, digitize and distribute their video assets
for the purpose of sharing internally, or publicly via Thought Equity's
online video licensing site.
Thought Equity will use this investment to expand sales and marketing
efforts to meet the growing demand for the company's video management
and licensing offerings. The company will also further develop the
technical capabilities of its Wyoming-based digital video refinery,
adding additional state-of-the-art video digitization, metadata
and storage systems that allow for secure outsourced refinement
of sophisticated motion video, such as high-definition footage.
The technical enhancements will allow the company to process these
video assets up to 80% more cost-effectively and accurately than
This new round of funding will enable the company to grow its market
penetration for these products across cable systems, cable networks
and the broadcast industries. In these core markets, Thought Equity's
clients include enterprise media companies such as Cox Communications,
Charter Communications, Bright House Communications, Regal Cinemas
"Thought Equity is meeting a strong need in the media space for
technology that provides efficient and intelligent management of
motion video and film assets in a way that maximizes their value
to both the creators and those that use them, " said Kevin Schaff,
Thought Equity's founder and CEO. "We share our investors' confidence
that the company is positioned to become a market leader.".
Thought Equity Management, Inc. is headquartered
in Denver, Colorado and is a leading supplier of production-ready
print and video advertising as well as state-of-the-art digital
asset management solutions for creative content. Large media, cable
and broadcast companies leverage the company's solutions to reduce
production costs, increase gross margins, enhance localized ad quality
and distribute branded content on a local level. For more information
about Thought Equity, visit www.thoughtequity.com.
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