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Pond5 Raises $61 Million From Accel Partners and Stripes Group(July 16, 2014)
New York, NY (PRWEB) July 16, 2014
Pond5, the worlds leading online marketplace for video footage and stock media, announced today that it has raised $61 million in equity financing from Accel Partners and Stripes Group. The funding is the first institutional investment for the company and will be used to fuel global growth, hiring, and product development.
Artists from around the world use Pond5 to upload video clips and other media, including music, photos and special effects. Those creating media projects, like films, mobile applications and video games, can then buy the royalty-free content for their own use.
Our mission since day one has been to build the worlds most vibrant, artist-friendly marketplace for creativity, said Pond5 CEO and co-founder Tom Bennett. We thought very carefully about the kind of partners we wanted to join us, and we couldnt be more excited to team up with Accel and Stripes for the next phase of our adventure.
Pond5s fast-growing collection of more than 15 million media clips is sourced from 30,000 artists in 127 countries and serves as a key creative resource for the global media production industry. The companys 2.7 million videos compose the largest royalty-free video collection on the Web.
Pond5 footage has found its way into blockbuster films like Iron Man, Thor and Dallas Buyers Club, and hit television series like AMCs The Walking Dead and NBCs Saturday Night Live. Media clients include BBC, NBC, and CBS, advertising agencies like Leo Burnett and Wieden & Kennedy and a growing roster of emerging video artists on sites like YouTube and Vimeo.
Pond5 has organically built a community of artists and creators that is as passionate about the site as some of the best marketplaces weve backed, including Etsy, said John Locke, Partner at Accel Partners who will join the companys board. Were thrilled to be a part of this team going forward.
True marketplace businesses are rarely created, said Dan Marriott, Managing Partner of Stripes Group, who will also join the companys board. They are built brick by brick to serve all of their constituents equally well and have the opportunity to redefine their industries globally. We couldnt be more proud to support such a great story and global team headquartered here in New York City.
Based in New York, with offices in Geneva, Switzerland and Prague, Czech Republic, Pond5 has been cash-flow positive since its founding in 2006 and is doubling sales annually. The company raised a seed round of $500,000 from the New York Angels in 2008. In 2013, Pond5 acquired Pixmac, an international network of stock photos sites based in Czech Republic. It currently employs a global team of 70 people.
A video explaining the financing, featuring producer Ryan Lewis of Macklemore and Ryan Lewis, is also available here.
Pond5 is the world's most vibrant marketplace for media makers, offering the web's largest collection of royalty-free stock video footage, as well as millions of stock photos, illustrations, music tracks, sound effects, Adobe After Effects project templates, and 3D models. Disrupting the traditional stock agency model with an open, dynamic marketplace, Pond5 invites media makers from all over the world to submit their own content and set their own prices. Contributing artists earn 50% on each sale significantly higher than traditional players. Submissions are curated by the Pond5 team, and made available for immediate preview, purchase and download. All content is licensed under a simple royalty-free license that provides customers lifetime, worldwide usage rights across all media.
Pond5 was founded in 2006 and is headquartered in Union Square, NY, USA with offices in Geneva, Switzerland and Prague, Czech Republic. For more information, visit http://www.pond5.com.
Founded in 1983, Accel Partners has a long history of partnering with outstanding entrepreneurs and management teams to build world-class businesses. Accel today invests globally using dedicated teams and market-specific strategies for local geographies, with offices in Palo Alto, California, New York City, London and Bangalore. Accel has helped entrepreneurs build over 300 successful companies, many of which have defined their categories. For more information, please visit the Accel Partners website at http://www.accel.com. Find us on Twitter at http://www.twitter.com/accel.
Based in New York City, Stripes Group is a leading growth equity firm that invests in Internet, Digital Media, Software and Branded Consumer Products businesses. Stripes Group partners with founder-driven, profitable, market-leading companies with proven business models that are generating exceptional growth. For more information on Stripes Group, please visit http://www.stripesgroup.com.
Read the full story at http://www.prweb.com/releases/2014/07/prweb12022820.htm.