Cisco invests in Digitalsmiths
Digitalsmiths, the Durham, N.C.-based online video indexing and publishing company, announced that Cisco Systems has made an investment in the company. Cisco's Media Solutions Group, which is working on the Eos platform it launched at CES 2009, took interest in DigitalSmiths' advanced indexing capabilities as a useful addition to its video initiatives.
The company's technology uses visual interpretation tools that process each frame of video with proprietary algorithms including facial recognition, scene classification, and object recognition and assign that information to a unique time-coded index. It then matches this data with the content to refine search results and increase online video discovery.
"We're incredibly proud that a worldwide technology leader like Cisco has seen what we're doing here at Digitalsmiths and chosen to take an investment role," said Ben Weinberger, founder and chief executive officer of Digitalsmiths, "Cisco has been a major industry player for more than 20 years and their support of our ongoing technology innovation is very encouraging."
Cisco's investment adds to $12 million in Series B funding that Digitalsmiths received in Nov. 2008. It will be used to further the research and development of Digitalsmiths's indexing technology, and to develop other products.
- see the company's release here