Multimedia software maker Arcsoft on Monday announced it has raised a $20 million round of funding, with the intention of creating mobile and cloud-based browser applications, and investing in core technologies.
“We want to be more aggressive in areas like imaging, video, gestures, facial-recognition and 3D,” CEO Michael Deng told VentureBeat. “Our codecs and software greatly improve many devices being used today, and we can do more.”
The $20 million in funding was led by Intel Capital, which is Intel’s global investment arm, and Tudor Ventures, the venture capital unit of Tudor Investment Corp. “We’ve been in talks with Intel and Tudor about possible investments for two years,” Deng said. “Finally, we’ve made this happen so we can develop next-generation imaging and multimedia solutions.”
Arcsoft is best known for bundling its software with new desktops and laptops from computer manufacturers like HP and Dell, and it has expanded its reach to phones, digital cameras, scanners and printers. Its mobile hardware partners include Nokia, Samsung, LG and Motorola, but Deng declined to say which specific devices from those OEMs (original equipment manufacturers) had Arcsoft technologies inside.
The company does not have any consumer-facing mobile apps at the moment, but the new funding will help the it produce iOS and Android apps. “We’ve been focused on the OEMs for a long time, but we see this as an area worth dedicating resources toward,” Deng said.
The most popular PC software titles from Arcsoft include PhotoStudio, Print Creations, DVD Slideshow, Panorama Maker and TotalMedia Theater. Deng said the company plans to launch similar apps but for the cloud. Deng also noted that the company would have more announcements related to this software in the next few months.
Fremont, Calif.-based Arcsoft has been around since 1994 and is privately owned. The last time the 800-employee company received funding was a $10 million round in 2001 from the likes of Panasonic and Seiko Epson, signaling the company’s ability to thrive without the need for outside investments.