Thought Equity snares $25 million investment

Online stock footage provider Thought Equity Motion has closed a $25 million investment from Shamrock Capital Experts. Funding is going to be mainly centered on the business's growth of its cloud-based media storage system. Thought Equity clients include film galleries, news orgs, sports privileges holders, agencies and production companies. Thought Equity Boss and founder Kevin Schaff noted that cloud-based systems offer both time savings and price-great ways to edit, deliver and store media data. They will also help reduce publish-production and shipping costs. "This can be a key milestone for Thought Equity Motion," he added. "We estimate the marketplace for video management in excess of $2 billion and growing over 30% each year.Inch Previously, Shamrock has assisted the likes of RealD go public. Despite the fact that Schaff views this type of move a choice later on, he stated his focus for the time being remains on helping content proprietors adjust to new technology. The connection with Shamrock appeared appropriate, per Schaff, especially thinking about Shamrock's investment history within the entertainment biz. "For all of us,Inch he stated, "the large factor that's beginning to affect Hollywood is cloud-based storage -- we are excited to take part in altering that landscape." Contact the range newsroom at news@variety.com