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Aframe, British video startup that's setting up U.S. headquarters in Boston, raises $7 million

Posted by Scott Kirsner  April 3, 2012 07:35 AM

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Aframe, a London-based startup, announced last week that it was setting up its U.S. headquarters in Boston, led by former Avid Technology executive Mark Overington. (I broke that news on Twitter back in October.) Today, the company is announcing a new funding round: $7 million from Octopus Investments, Eden Ventures, and Northstar Ventures.

Aframe is a cloud-based service that helps customers like MTV and the BBC run their video production processes more efficiently. Basically, anyone working on a media company's production team who needs to access raw or edited video can get it, securely, through Aframe. The Aframe service frees media companies from the headache of having to manage their own storage infrastructure for video; all they need is an Internet connection and the editing software they normally use. Monthly pricing starts at $99.

Aframe has now raised $10 million in total, all from European venture capital firms. I asked chief executive David Peto (pictured at right) whether he'd had any any talks with Boston-area investors. He told me he'd met with a few, but all of them "wanted to see us with a proper presence in the U.S. first."

Peto expects the Boston office to hire about ten people "as fast as we can," primarily in sales, marketing, and technical support. "We'll decide on more hires in about nine months," he says. Peto says the new funding will be used to help the company build out its hosting infrastructure in New York and Los Angeles, and acquire new customers in the U.S. and Europe.

Aframe hasn't yet signed the lease for its office space in Boston yet, but a company representative tells me it'll likely be out on Route 128.

"Timing is everything in entrepreneurship," Peto says. "Three years ago, people didn't know what the cloud was. But now, the amount of data people need to store is going absolutely mental. And we are finding that our customers would rather focus on making great content, not all of the technical complexity of managing these huge video files."

Here's a screenshot supplied by Aframe:

aframescreen.jpg

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Scott Kirsner was part of the team that launched Boston.com in 1995, and has been writing a column for the Globe since 2000. His work has also appeared in Wired, Fast Company, The New York Times, BusinessWeek, Newsweek, and Variety. Scott is also the author of the books "Fans, Friends & Followers" and "Inventing the Movies," was the editor of "The Convergence Guide: Life Sciences in New England," and was a contributor to "The Good City: Writers Explore 21st Century Boston." Scott also helps organize several local events on entrepreneurship, including the Nantucket Conference and Future Forward. Here's some background on how Scott decides what to cover, and how to pitch him a story idea.

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