Led by Vela Founder, Smartvid.io Gets $3.4M to Manage Industrial Video
This is the new era of video sharing and management. Now one local startup is going after what could be a big opportunity in the architecture, engineering, and construction markets.
Smartvid.io, based in Cambridge, MA, has raised $3.4 million in seed funding led by CommonAngels Ventures. Launchpad Venture Group and other angel investors also participated in the round.
The company makes software that helps businesses manage and analyze photos and videos from smartphones, GoPro cameras, and even drones. It has five initial customers, including Suffolk Construction, and is looking to launch wider beta trials this fall. Construction companies, for example, can use the software to manage video data from project sites and conduct inspections. They can also use the technology to share information with their customers and partners.
Smartvid.io is led by founder and CEO Josh Kanner. He’s a three-time chief executive, having previously led Vela Systems and Tegos Technology. He’s also a venture partner at CommonAngels Ventures. (Disclosure: CommonAngels is an investor in Xconomy.)
Kanner would know the technology needs of the architecture and construction industries. Vela Systems made field management software for tablets and mobile devices in industrial settings. The company forged partnerships with the likes of Trimble and Tekla, as well as Autodesk, its eventual acquirer in 2012.
The idea behind Smartvid.io “was inspired by the same forces that led to the creation of Vela Systems, namely, that improvements in hardware create opportunities for value creation in software,” Kanner says in an e-mail. “In this specific case, the introduction of mobile devices, GoPros, and drones on construction job sites and other industrial contexts is creating a whole new class of content.”
Kanner started working on Smartvid.io last December. The startup has about 10 people in its extended team, he says, and is hiring.