Austin, Texas based online video content creation company ON Networks has taken $12 million Series B in a round led by Accel Partners. Also participating in the round were original investors Austin Ventures and AT&T.
The funding will be used to expand ON Networks, including the development of its “virtual studio technology platform,” and for the production of new shows.
As part of the deal, Accel Partners’ Peter Wagner will join the ON Networks board of directors.
ON Networks produces a range of original video content, with shows such as Play Value, The 5-Minute Drill, BackPack Picnic, Budget Health Nut, Cocktails on the Fly, Golf Tips, and Stump the Chef. The company offers its content via the web and for download, and all shows are recorded in HD and cut using ON Networks’ “ProSourcer Virtual Studio” that is claimed to streamline the management, creation and distribution of content.
ON Networks previously took $4 million Series A in November 2006, taking total funding to $16 million.
interesting, a google search for “prosourcer virtual studio” produces 2 whopping hits, must be the worlds best kept secret
looks like they took the logo from ON Semiconductor
This more like entertainment company. Cnet video type of thing, is there any where it can grow?
I love what they’re doing!
I am involved in the production of a small comic serie and I think this site will give further visibility, and a more professional-looking front-end (hence credibility), to all of us indie producers out there.
Just posted about them: http://stephsth...nage.org/?p=165
I think the concept is good but I am not sure howthe new users will find this virtual platform worth for them.
doing press releases now techcrunch?
I’ve been into some of the shows on On Networks for a while now. I live in Austin and they do a cool show called Austin Connoisseur (http://www.onne...tin-connoisseur). I like what they’re doing, especially since I can add them directly to my Ipod. Back in May I wrote a “Top list” of my favorite places online free TV and Movies. On Networks was included on that list http://www.allt...and-television/
Now that they’ve gotten $12 million, I suspect we’ll be seeing a lot more cool stuff come out of On Networks.
done with the excellent Open Source Drupal framework !
I was involved in the production of one of the series that is currently available on ON Network. While we DID shoot our production in HD, we did not use the “ProSourcer Virtual Studio”. I’m not even sure what that is. We did all the post production in “Final Cut Studio”, and then provided ON Network with a digital file that they then converted for display in their video player.
to #9, I think “prosourcer” is a codeword word for – convert the source video to a bunch of formats and distribute thru a bunch of places -
Great idea. I think this can capture a very specific market…