The $1 million investment is being lumped in with Qwiki’s $8 million Series A round led by Facebook co-founder Eduardo Saverin, and brings the final tally for the round to $9 million.
“Doug [Imbruce] and the Qwiki team are solving a real problem with a technically innovative and scalable solution that applies to multiple verticals,” says Keywell, Lightbank’s co-founder.
Qwiki, which creates interactive video presentations from multiple data sources such as YouTube and Wikipedia, released its product into public alpha a few months ago. “The alpha response has been tremendous: site traffic is growing beyond our wildest expectations,” says CEO and founder Doug Imbruce.
The startup’s iOS applications and API are still works in progress, though the iPad application is said to be coming soon. These future releases are part of a larger strategy to make Qwiki’s information experience cross-platform.
“The additional $1 million will help accelerate our product rollout by allowing us to recruit more top-tier talent,” says Imbruce. “The vision of Qwiki has always been to create a consistent experience that supports media consumption as it moves off the desktop; With more capital, we can deliver the Qwiki experience on mobile and iTV platforms faster.”
Qwiki has raised $10.5 million in seed and Series A funding to date.
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