Newsbridge, a Boulogne-Billancourt, Ile-de-France-based AI & Cloud Media company, raised €7 million in a Series A funding round.
The round was led by Supernova Invest, with continued support from VC Elaia Partners and angel investor Dominique Edelin.
The fund will be used to continue its expansion to the U.S.A and hire top AI and media engineering talent to continue its R&D in Multimodal AI Indexing for media assets.
Newsbridge has more than doubled its recurring revenue in the last 12 months, with recent new customer wins including football clubs Bayer Leverkusen and Olympique de Marseille, German public broadcaster SWR, and media company Brut.
“With this latest financing, we’ll be opening our first U.S office in New York. We’re also going to further strengthen our business in Europe and the Middle East with the hiring of dedicated regional managers. We want to continue to innovate in content searchability, and will reinforce our team with additional AI and media engineering talent. Alongside this, we want both Newsbridge and our customers to lower their carbon footprint. Currently, up to 450-watt hours can be needed for each hour of AI-powered media processing. Our goal is to reduce that number by 90% in the next two years.”-Philippe Petitpont, Newsbridge Co-Founder and CEO said.
Company: Newsbridge SAS
Round: Series A
Funding Month: September 2022
Lead Investors: Supernova Invest
Additional Investors: VC Elaia Partners and Dominique Edelin
Company Website: https://www.newsbridge.io/
Software Category: Cloud Media Hub platform for live and archived content
About the Company: Co-founded in 2016 by twin brothers Frédéric and Philippe Petitpont, Newsbridge is a cloud media hub platform for live & archived content, powered by Multimodal AI Indexing and a data-driven indexing approach. Newsbridge provides unprecedented access to content by automatically detecting faces, objects, logos, written texts, audio transcripts, and semantic context. Newsbridge's scalable product solution enables smart and efficient media asset management. Today, its platform is used by worldwide TV channels, press agencies, production houses, journalists, editors, archivists, and sports rights holders to boost their production workflow and media ROI.