StudioNow Announces Investment Round Led by FCA Venture Partners
StudioNow provides the full spectrum of “Creation to Syndication” empowering companies big and small to create more and do more with their Internet video strategy. They believe that the web will eventually become “one big video” and it is their goal and passion to help their customers obtain and integrate the highest quality resources (creative professionals and technology/software) at the lowest possible cost and time frame. By developing and implementing Internet video solutions across a diverse customer base; from Fortune 500 companies to local merchants, they have proven that StudioNow is “the expert” in the Internet video service space. They help their customers create any type of content anywhere and at anytime and also manage/store the content and syndicate it to the desired sites throughout the world.
StudioNow was founded in 2006 as a video solutions provider with a network of 6,500 videographers/editors and a custom distribution platform. FCA Venture Partners fourth fund, FCA IV, invested in StudioNow in 2008. In 2010, AOL, Inc., acquired StudioNow for $37M resulting in an excellent return on FCA’s investment in only 19 months. In Q4, 2012, AOL determined SN was a non-core business and allowed StudioNow to “spin-out” as a stand-alone entity. Over the past few years, StudioNow has dramatically increased their revenue and is raising this investment round to capitalize on the opportunity they are seeing in the market. FCA V’s investment will provide bandwidth to accelerate market growth and hire the key talent needed to scale the company.
The investment comes from FCA Venture Partners fifth fund, FCA Venture Partners V, L.P. (“FCA V”), which has a focus on companies in the early stage to growth equity phase.
About FCA Venture Partners
FCA Venture Partners, the venture capital manager of Clayton Associates, was founded in 1996 by R. Clayton McWhorter, founder of HealthTrust, Inc. and former chairman of Hospital Corporation of America (NYSE:HCA), and Stuart C. McWhorter, President and Chairman, to serve as a platform for investing in transformational healthcare and technology related strategies. FCA Venture Partners fifth fund, FCA V, is focused on healthcare services and information technology businesses in early to growth stages with disruptive, scalable business models, led by strong management teams with sector specific expertise. FCA and its affiliates have invested $175 million in over 85 companies to date, resulting in more than $7 billion in annualized revenue.