Overcast announces expansion plans after €500k funding round
Video collaboration platform Overcast is to hire 70 people over the next three years after raising €500,000 in its latest funding round.
The company had previously raised €100,000 through angel investment and Enterprise Ireland’s Competitive Start Fund last year. Overcast has also received funding through Amazon’s Activate programme.
The start-up, which has been described as ‘Google Docs for Video’, won the Enterprise Ireland High Potential Startup (HPSU) Sprint competition last year and was named by Google as one of the top 40 Irish start-ups to watch.
Overcast was co-founded by Philippe Brodeur and Zsolt Lorincz. Brodeur was responsible for creating TV3.ie and Lorincz is an award-winning developer who ran a Web design business in Hungary before moving to Ireland in 2011.
It is the first video collaboration platform of its kind to be designed to integrate the storing, sharing and distribution of video content for a variety of businesses such as video producers, media agencies, marketers, and broadcasters.
“Despite being a young company we have already attracted a number of blue chip clients such as the Daily Mail and Dublin City University,” said said Brodeur. “The funding will be used to expand our headcount to help with additional product development and also expand into new markets as companies around the world face the same challenges surrounding the management of video files.”