Thought Equity Motion has raised $25 million from Shamrock Capital Advisors to further develop its cloud-based video asset management platform and expand globally. As Kevin Schaff, CEO and founder of Thought Equity Motion explained to me last week, the company is capitalizing on the media industry's shift from analog to digital work flows which is improving operational reliability, saving capex and opening new revenue opportunities.
Thought Equity Motion has optimized its cloud service for media companies that want to move from storing high-value libraries on tape or on local hard drives to doing so in the cloud. First and foremost, Kevin said the company's focus is on secure, redundant master file storage. Thought Equity Motion's cloud is particularly suited to large video file sizes with high throughput ingest and encoding. The company is now ingesting 1 petabyte of video per month, a dramatic increase from just 6 months ago. Files are kept at a secure, enterprise-class physical storage facility with on-demand encoding and access.
Online video continues to make reliving the best moments of your favorite sports teams easier and the latest example is the new "ACC Vault" launching today. Through a partnership of the Atlantic Coast Conference (ACC), Raycom Sports and Thought Equity Motion, an archive of full-length, classic ACC Tournament and regular season men's basketball games from the 12 member programs dating to 1983 are now freely available to visitors (for an example, see the below clip of UNC's Michael Jordan hitting a nice jumper against Duke in 1984). The partners plan to add more sports highlights over time and envision ACC Vault eventually becoming an "all sport video Wikipedia."
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