OpenReel Remote Production Platform Gets $19M in Funding
Funds will help company expand and further develop its technology
NEW YORK—OpenReel, which developed the Remote Video Creation platform, has announced that it has received $19 million in Series A funding from global software investor Five Elms Capital. With the investment, OpenReel plans to further expand its offerings as well as develop its patented technology that enables teams to remotely control, direct, record and collaborate on high-def video projects.
The OpenReel “remote camera” software is designed to allow a remote director to control a webcam or mobile device and film in up to 4K quality. The software allows as many as four people to record and four people viewing a shoot in real time. Footage is stored locally and automatically uploaded after the shoot.
To date, OpenReel is available in more than 125 countries.
“Due to the accelerated digital transformation we’ve experienced in the past year, there has been a fundamental shift in the way enterprises are creating content,” said Lee Firestone, CEO of OpenReel. “We continue to see organizations utilizing video in exciting new ways and are well-positioned to iterate on our product to meet the growing demand from the hybrid workforce of the future.”
“OpenReel has proven itself as an important component of the remote technology stack as well as a vital tool in the broader content creation toolbox empowering enterprises to enhance their content and create more of it,” said Thomas Kershisnik of Five Elms Capital.
For more information, visit www.openreel.com (opens in new tab).
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