Morrisville firm gets big capital infusion
Published: Fri, Nov. 14, 2008 12:30AM
Modified Fri, Nov. 14, 2008 02:21AM
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closeMORRISVILLE -- A company that designs video search engines for Hollywood studios and the entertainment industry has raised $12 million in a second round of venture financing. Digitalsmiths will use the money for product development and new hiring.
The 10-year-old company, which employs 35 people, expects to double its staff and add employees in Los Angeles to work with Hollywood customers. The Morrisville company is hiring engineers, managers and sales representatives.
CEO Ben Weinberger said the new venture capital would help the company expand its customer base and achieve profitability. The venture capital investors include The Aurora Funds in Durham.
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Digitalsmiths' indexing technology searches video for actors, scenes, dialogue and other criteria.
The company moved to the Triangle from Beaufort, S.C., in 2007. It was co-founded by Weinberger when he was a 20-year-old undergraduate studying radio and television production at Southern Illinois University.
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Staff writer Jack Hagel; Staff writer John Murawski; Staff writer Jonathan B. Cox; Staff writer David Ranii
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