Beamr Imaging, an Israeli startup that offers video and broadcasting solutions, is ready for its initial public offering IPO. The company, which has even won an Emmy for its services, has filed the paperwork with the SEC to go public on the NASDAQ. Renaissance Capital, a financial services firm working on the IPO, said that the company expects to raise $35 million from the offering. However, no other terms of the IPO –number of shares to be offered, pricing, etc. – have as yet been revealed.
This makes Beamr Imaging the third Israeli startup to announce plans for a NY IPO so far in February. Cybereason, an Israeli cyber security startup, reportedly confidentially filed its paperwork with the SEC for an expected $5 billion IPO on Wall Street. Nayax Ltd., an Israeli Fintech firm already publicly traded on the Tel Aviv Stock Exchange TASE, filed confidentially with the US Securities and Exchange Commission (SEC) for a Wall Street public offering. There is no word yet, however,as to what Nayax expects from its IPO.
Founded in 2009 by a team of leading image science experts and is backed by Verizon, Disruptive, and Eric Schmidt’s fund, Innovation Endeavors. Beamr has more than 80 employees located in Palo Alto California, Tel Aviv Israel, and St. Petersburg Russia.
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Hollywood studios, MSO’s, and some of the world’s largest OTT distributors use Beamr technologies to ensure reliable delivery of maximum video quality, while reducing delivery costs, improving user experience, and lowering the TCO of cDVR, VOD and TVE systems.
Beamr software is available across a broad range of platforms including cloud and on-premises installations, we have received 36 granted patents with more than two dozen still pending, for the industry’s first fully content-adaptive perceptual optimization process that reduces the bitrate of video streams and files up to 50% without compromising quality.
The news comes just a few weeks after Beamr Imaging announced an integrated solution that combines Beamr’s CABR (Content Adaptive BitRate) rate control with the NVIDIA NVENC hardware video encoder.
“Beamr has been optimizing images and videos for the past 10 years, resulting in reduced storage and delivery costs, and an improved user experience for our customers,” said Sharon Carmel, Founder & CEO of Beamr about the deal. “The increase in video quality with the shift to 4K and 8K, and the increase in the amount of video with applications such as smart cities, automotive and user-generated content, require new levels of video optimization performance, which are available only with hardware encoders. We selected the NVIDIA NVENC hardware video encoder due to its high quality and extreme performance, and are grateful to the NVIDIA team for working closely with us on adapting the NVENC APIs to enable frame-level access to the video encoding engine.”