Klip Reels in $8 MillionNovember 21, 2011
by Scott Martin
Klip, the popular mobile video app, has captured $8 million in a second round of funding.
Palo Alto, Calif.-based Klip allows people to shoot videos from its app or upload them and post to its mobile community. Members can peruse videos and make comments. The free app is available from Apple’s App Store.
Klip isn’t alone in this fast-growing category of social video that counts Socialcam, Viddy and Vlix, among others.
But Klip stands apart, because founder Alain Rossmann is no stranger to video or mobile and has a series of entrepreneurial hits under his belt. Most recently, Rossmann and Tony Miranz sold Vudu, the video service they co-founded, to Wal-Mart. In the dot-com boom, he served as CEO of mobile browser start-up OpenWave, formerly Phone.com, which launched one of the sizzling-hot IPOs of the era.
“We’re laser-focused on creating the world’s best experience in social video sharing,” Rossmann says. “The potential is enormous.”
That’s no hyperbole. Gartner forecasts about 1 billion smartphones will ship in 2014, most packing video capabilities.
Klip investors include Benchmark Capital, Matrix Partners and Rossmann.
Rossmann is also among a club of Apple alumni influenced by Steve Jobs now reshaping Silicon Valley. Klip, launched two months ago, took a relatively small $2 million in first-round investment for such a notable founder and promising start-up. Rival Vlix, for example, pocketed $16 million from Kleiner Perkins and DAG Ventures.
Rossmann said that Jobs was known to understaff everything like a huge start-up. “He left a big impression on me,” says Rossmann.