SaaS Capital Portfolio Company, Wiredrive, Merges with MediaSilo and Raises $7 Million
March 1, 2017
CINCINNATI, NEW YORK, SEATTLE, March 1, 2017 –SaaS Capital, the leading provider of Credit Facilities to SaaS companies, congratulates portfolio company Wiredrive on the closing of its merger with MediaSilo.
The merger forms the world’s largest SaaS platform for video-driven creative workflows with more than 1,800 enterprise customers worldwide. The joint entity has raised $7M from Boston-based Schooner Capital to support rapid growth and build the next generation of rich media collaboration tools for production, post-production, agencies, and brands.
Wiredrive is the leading platform among agencies and brands to present work-in-progress, video reels and manage library content, while MediaSilo’s expertise lies in providing secure video collaboration tools and pre-release content delivery to the post-production market, including many of the largest media companies in the world. The two companies are merging to combine product development resources and execute on a common vision, focusing on innovation.
“Combined, we are able to rapidly innovate on product to provide tools that solve key problems for creatives,” says Taylor Tyng, CEO of Wiredrive. “Integrating MediaSilo’s SafeStream™ technology will provide an immediate benefit to Wiredrive customers by bringing on-demand watermarking to high-value video content such as Super Bowl ads and sensitive corporate content. This is just the start — there is so much more to come.”
“We’re excited to join forces with Wiredrive, and we believe together we can evolve the way the entire industry works,” says MediaSilo founder Kai Pradel, who will serve as CEO of the joint entity. “Both companies share a history of providing secure, mission-critical workflow platforms, as well as a friendly rivalry based in mutual respect. Together, we plan to leverage our shared reputation for credibility and reliability to release solutions that will delight creative and content security professionals alike.”
The Wiredrive and MediaSilo platforms will both remain available to customers on an ongoing basis, with no changes to service. The combined company will serve over 320,000 users per month with these users viewing more than 1M creative assets total during that period. New engineering efforts will be focused on developing and rolling out a new collaboration platform with workflow-specific solutions. The company will maintain offices in both Los Angeles and Boston.
Wiredrive is a secure media-sharing and collaboration tool designed for creative professionals. Top agencies, brands, production houses, and entertainment companies rely on Wiredrive to effectively collaborate with teams and privately share video. Wiredrive is trusted by industry leaders from creation to distribution with the fastest industry upload and download speeds, easy review and approval, industry-specific workflows, robust search capabilities, custom branding, insights into user activities, metadata search, and enterprise-grade security. Visit www.wiredrive.com to learn more.
Boston-based MediaSilo is the industry leader in providing secure video collaboration solutions to media and entertainment companies and the post-production houses that serve them. MediaSilo’s flexible video sharing platform handles encoding and playback, review and approval, and media management, combining enterprise-level security and SafeStream™ on-demand watermarking with elegant usability. MediaSilo integrates with most hosting, productivity and storage solutions, adapting to existing workflows and freeing clients up to tell their stories. Visit mediasilo.com to learn more.
About SaaS Capital
SaaS Capital is the leading provider of long-term Committed Credit Facilities to SaaS companies. Focusing exclusively on the SaaS business model, SaaS Capital delivers faster decisions, more capital, and longer commitments. SaaS businesses have used SaaS Capital’s Committed Credit Facilities, instead of equity, to finance growth and create hundreds of millions in enterprise value without sacrificing significant ownership or control. Also, through its partnership with DH Capital, a boutique investment banking advisory firm, SaaS Capital can assist with M&A and capital raising services. SaaS Capital has offices in Cincinnati, New York, and Seattle. Visit www.saas-capital.com to learn more.
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