In Europe and the Middle East, Newsbridge is planning to hire dedicated regional managers to further strengthen its business.
Newsbridge, the AI & Cloud Media company, has raised $7.06m in Series A funding round to continue its expansion to the USA, and hire top AI and Media Engineering talent to continue its R&D in Multimodal AI Indexing for media assets.
Newsbridge’s Multimodal AI merges detection results from face, text, objects, pattern and transcription to produce highly accurate metadata and search results. Supernova Invest leads the round, with continued support from VC Elaia Partners and angel investor Dominique Edelin.
Newsbridge has more than doubled its recurring revenue in the last 12 months and recent new customer wins including football clubs Bayer Leverkusen and Olympique de Marseille, German public broadcaster SWR and media company Brut.
Commenting on the development, Philippe Petitpont, Co-Founder and CEO of Newsbridge, said: “With this latest financing, we’ll be opening our first US office in New York. We’re also going to further strengthen our business in Europe and the Middle East with the hiring of dedicated regional managers. We want to continue to innovate in content searchability, and will reinforce our team with additional AI and Media Engineering talent. Alongside this, we want both Newsbridge and our customers to lower their carbon footprint. Currently, up to 450-watt hours can be needed for each hour of AI-powered media processing. Our goal is to reduce that number by 90% in the next two years.”
Newsbridge provides access to content through its disruptive Multimodal AI Indexing and Cloud Media Hub. Its AI automatically identifies faces, objects, logos, written text, transcribes audio and provides semantic context. Be it for managing and accessing live recordings, clipping highlights, future-friendly archiving, content retrieval or content showcasing and monetization, Newsbridge’s scalable product solution enables smart and efficient media asset management.
Romain Sautrau, Investment Director at Supernova Invest, added: “In a very mature industry, Newsbridge is coming with a fresh approach empowered by Artificial Intelligence. We were impressed by the performance of its multimodal deep-learning platform. We’re excited to lead this next phase of growth into new geographies.”
Frederic Petitpont, Co-Founder and CTO of Newsbridge, added: “Thanks to Multimodal AI-powered indexing, our customers can navigate to specific moments in their vast media collections. Today’s live is tomorrow’s archive, and when content is easily searchable, it becomes reusable and potentially unlocks new revenue streams.”
Now a 35-strong employee, remote company, Newsbridge was co-founded by twin brothers Frédéric and Philippe Petitpont in 2016. With Multimodal AI Indexing technology on the market, Newsbridge is allowing organisations to simultaneously preserve their heritage and make it accessible from anywhere in a single click.
Newsbridge is exhibiting at IBC 2022 in Amsterdam.
Stand 7. B09