Video Tagging company VeoTag raises $1.2 million
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Video publishing service Veotag Inc. has received $1.2 million in funding from Small Ventures USA, a venture firm headed by Bill Perkins. Last year Veotag raised just over $1 million from Small Ventures USA and unnamed angel investors, said Scott Rhodes, co-founder and chief executive of Veotag. Bill Perkins has joined Veotag’s board.
Online video viewing has grown significantly since last year with Google’s YouTube dominating the market. Publishers however have still been unable to properly monetize online video’s through relevant advertisements. Tagging online video’s is important for publishers to insert relevant ads into video streams.
With Veotag, users can create a table of contents and add links and additional resources within an audio or video file. This makes it easier for audiences to know what is inside a video and click to the most interesting section. The company also helps companies manage and publish these files. Veotag targets the enterprise space, helping companies that have a vast array of files.
The company’s service can quickly get video files online and provide search engine optimization to get the files noticed on search engines, Rhodes said. Customers include BearingPoint Inc. and Jazz at Lincoln Center. The service operates as an HTML file around the media file, which makes it work on virtually any type of file, Rhodes said.
