Ferris has pulled in a large chunk of cash from some very well-known online video investors. The new video editing and sharing iOS app has raised $2 million in funding from Upfront Ventures and Allen DeBevoise.
The Ferris app allows users to turn their mobile videos into shareable clips by providing easy editing and sharing tools. Ferris users can weave their mobile videos together (no matter if they were shot using Periscope, Twitter video, or other platform) into a sort of story or mini film and combine those stories with the ones created by other users. For example, users who all attended the same wedding could contribute to a story comprised of all the videos taken during the wedding, in order to provide a more thorough picture of what the day was like for everyone.
Ferris’s website explains how the app wants to encourage users to “collect memories, not dust.” The video editing and sharing app was created by director and editor Paul Boukadakis who, according to TechCrunch, noticed a multitude of videos on consumers’ phones never get shared because they don’t know how to edit them into interesting pieces of content.
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“The idea of personal, intimate video just sitting on your phone that goes to waste doesn’t have to be that way,” said Boukadakis to Variety. “We want to rekindle those moments by making stories of them, and to have people continue these stories.”
Ferris joins a plethora of other online video-related companies already supported by Upfront Ventures and Allen DeBevoise. Upfront is already known in the online video industry for its investments in YouTube analytics platform Epoxy, the Latino multi-channel network MiTu, and multi-channel network Maker Studios. As for DeBevoise, he has provided funding for gaming network Machinima (which he co-founded and where he used to be CEO), YouTube analytics company Tubular Labs, and viral video network Jukin Media.
You can download the iOS version of the Ferris app via the iTunes app store.
