VideoCells, a developer of Web-based video storage solutions, announced last week that it has secured $3.2 million in funding.
According to a statement issued by the company, the round of funding was headed by Marc Belzberg, an entrepreneur who has also made investments in companies developing solutions for the military and healthcare industries.
VideoCells’ Web Video Recorder (WebVR) is an IP-based solution that allows users to remotely record and manage video contents at a reduced cost.
"We are very pleased with the investment and the people behind the funds," VideoCells CEO Stuart Steinberg said in the statement. "Times are hard, but VideoCells has a unique, patented technology and a solid go-to-market strategy. This equity investment is the key that will unlock our broader vision and a tangible demonstration of the market’s confidence in our future."