The music video industry has a new player with some impressive funding and names behind it. Vadio, a startup which provides music video distribution technology to audio-based sites, has raised $7.5 million in Series A funding, hired Yair Landau as chairman and COO, and added Rio Caraeff to its board of directors.
Founded in 2012, Portland-based Vadio is based around the idea that video should be delivered to music fans everywhere, not just on YouTube (where music videos and music-based channels routinely top charts and searches). According to Variety, CEO and founder Bryce Clemmer defines his company as “a B2B (business-to-business) company that provides music video content plus the tech for platforms – the Spotifys, Pandoras, iHeartRadios, and Shazams of the world — that don’t incorporate video.”
To that end, Vadio closed its recent Series A funding round with $7.5 million, led by Marker LLC. Marker was joined by fellow investors Manatt Digital Media, Amplify, Rogue Venture Partners, Mucker Capital, Wieden + Kennedy, and a handful of executives from within the entertainment industry. To date, Vadio has raised roughly $10 million.
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Now that Vadio appears to have a solid beginning, the startup has brought on leadership to help it grow and strike deals with sites like Pandora and Spotify. The first new executive is Landau, the former president of Sony Pictures Digital. Landau also worked as a partner at MK Capital and founded Mass Animation studios in 2008. The new Vadio COO and chairman will be based in the startup’s Santa Monica, California office.
Additionally, Vadio has added Caraeff as a board member to provide guidance on the startup’s overall product and service strategies. Caraeff previously held the CEO position at Vevo, with whom Vadio already has a deal to allow the startup’s partners to embed Vevo music videos on their sites.
Clemmer said his goal with the new Vadio funding will be to focus on hiring product and engineering employees, as well as to leverage his company’s technology to meet the high demand for music videos. According to a Vadio release, as reported by StreamDaily, the number of views on music videos has risen 800% over the past six years.
“Any platform that can incorporate video, will,” Clemmer said. “The landscape of the music industry is changing. Video is becoming one of the most important experiences for media companies to have.”
