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Mobile video recording service Streamweaver closed a $1.3 million round of funding today, the startup confirmed to VentureBeat.
Streamweaver is a free iOS app that lets multiple iPhone owners record a live video at the same time, which is then converted into a single, 60-second video with a split-screened view of each person’s camera angle. I previously described the service as an easy way to harness the functionality of a broadcast video news crew, but without the expensive equipment or time-intensive video editing.
Streamweaver’s focus on split-screen recording sets it apart from the many other mobile video recording apps on the market, most of which focus on creating a Twitter or Instagram for video (Viddy, Klip, Tout, etc.). Streamweaver’s only real competition in the split-screened video market is iOS app Vyclone.
“A lot of the innovation that’s happening in social video is focused on post-record, but we’ve always been intrigued by the social aspects and allowing people to create content together,” Streamweaver COO Jay Hake told VentureBeat, adding that the new capital will allow the team to continue doing just that.
Hake said Streamweaver will use the new funding for additional development and marketing. The startup is currently focused on producing a more feature-rich version of its iPhone app but does consider an Android version something that will eventually happen.
The new round includes a major investment by former Facebook Chief Security Officer Chris Kelly, who will join Streamweaver’s board of directors. Others that participated in the funding round include Byron Smith and INCITE Co-investment Fund, as well as previous investors Tennessee Community Ventures and Mountain Group Capital.
Founded in 2012, the Nashville, Tenn.-based startup currently has 8 full-time employees and is planning to release a new version of its iPhone app in the near future.
h/t to TechCrunch
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