Online video firm lands $7 million

Austin Business Journal - 11:47 AM CST Monday

RipCode Inc., an Internet protocol video equipment manufacturer with operations in Dallas and Austin, raised $7 million during its first round of funding.

Hunt Ventures, Vesbridge Partners and El Dorado Ventures co-led the round with participation from ATA Ventures.

RipCode will use the funding to develop new technologies for processing Internet video content. The company is focused on developing products that accelerate the transformation of video and audio content for mobile TV, social networking video and studio-based productions.

Serving as the company's CEO is former General Bandwidth, now known as Genband, CEO Brendon Mills. Genband has since moved its headquarters from Austin to Dallas.

"The explosive growth of Internet video is overwhelming the current technologies that handle video processing transactions," says Mills. "RipCode is bringing to market innovative technologies that will create new viewing choices for consumers while redefining the operational costs and processes for content owners."

Jeff Hinck, senior managing director of Vesbridge Partners, and Jeff Williams, managing director of Hunt Ventures, joined RipCode's board of directors, along with Scott Irwin, general partner at El Dorado Ventures.