Beamr (formerly ICVT), a provider of image and video optimization products, has closed a $9.5 million financing round led by Marker and Innovation Endeavors. The company's technology reduces the bitrate of video streams by up to 50% without affecting perceptual quality or altering the format of the original stream. It enables smoother delivery of HD video over existing mobile and broadband connections and cost savings to content distributors, OTT service providers and network operators. Prior to developing its video optimization technology, Beamr had released JPEGmini, a software product that reduces the file size of images by up to 80%, with no visible impact on image quality.
The company plans to deploy the new funds to accelerate the development of its ultra-HD and HEVC optimization technologies that will enable streaming of ultra-HD (4K) content to broadband-connected consumers. It also plans to expand its marketing and sales activities in the U.S. and globally.