Internet video start-up Veodia said Monday that it raised $8.3 million in a first round of funding from Clearstone Venture Partners and the D.E. Shaw group, among others. The San Mateo, Calif.-based company said it plans to use the money to build up its software-as-a-service video technology and to hire new executives, which recently include former SAP technologist Etay Gafni.
Launched in 2007,
Anil Patel, a principal with Clearstone Venture Partners, said that Veodia is catering to a promising market. "We invested in Veodia because we believe that video in the workplace is going to fundamentally change the way businesses interact with their customers, partners, and employees," Patel said in a statement.