Iris – the London-based creative network – has invested over half a million pounds in the Brighton-based software startup, dubbed Filmstro. The Brighton-based software startup has developed a music composition platform for content creators. The funding of half a million pounds has come through The Iris Nursey, which is the ventures and innovation arm of the London-based company.
How will the funding help Filmstro?
The £500k funding will assist the Brighton-based startup in further support its expansion across the advertising market. The startup is already trusted by large companies like Vimeo and the BBC. Software developer Chris Young and former composter Sebastian Jaeger founded the startup in 2014.
The startup is trying to uncomplicate the chaotic issue of music rights for advertisers and it is going to do this by providing a dynamic library of music which can be easily customized dependent on themes and other characteristics like depth and momentum. According to the World Advertising Research Centre, the Brighton-based startup is hoping to capture the successful and growing market in online video content amid a hike of $16 billion in video ad-spend since 2010.
The founder and former composter Sebastian Jaeger was hopeful after the backing that there are benefits of working with Iris. The creative network company – Iris – has over 14 offices around the world.
We have been building strong links with smart startups since 2013: Iris
The founder of the startup says that the London-based creative network understands this industry intimately, “and really get the problems we’re trying to solve. We can feel their support for our mission of democratising music production for the creative media industry, whilst rewarding composers at the same time.”
As for the creative network itself, David Caygill, Managing Director of The iris Nursery said that they have been building strong links with early stage companies and smart startups since 2013 and those collaborations assist them in driving innovation at pace for both their clients and their agency.
He added, “When we work with a company as good as Filmstro it just makes sense to invest – it demonstrates our long-term commitment and helps to align our ambitions. The Filmstro team are passionate and talented, and their product solves a real problem elegantly.”