DMOD Inc., a leading provider of secure digital media workflow anddistribution solutions for the media and communications industry,announced that it has received $5 million in third-round venturefinancing led by initial venture investor Greylock with participationby existing investor Pilot House Ventures Group. The additional fundswill be used to accelerate sales, marketing, and product developmentefforts for the company’s DMOD WorkSpace software, which is used bymajor media firms to securely distribute audio, video, and otherdigital media assets via the public Internet or other networks.
DMOD WorkSpace is the first software-only solution to simultaneouslyaddress inefficiencies in the digital production workflow and thepressing need to protect content during the B2B production process –where published estimates suggest that 80% of media industry piracyoccurs. DMOD WorkSpace affords greater control over digital assets,when compared with FTP or VPN alternatives, by combining secure filetransfer with owner-defined media access permissions, such as releaseand expiration dates. By leveraging the public Internet to reduce timedelays and expenses associated with delivery services and travel, DMODWorkSpace also helps to shorten production cycles and reduce projectcosts.
“DMOD has astutely built value-added features onto its DRMtechnology that differentiate it from all other DRM players, many ofwhom have fallen by the wayside,” said Bill Rosenblatt, industryanalyst and president of Giant Steps Media Technology Strategies, whichpublishes the newsletter DRM Watch. “No other vendors offer thecombination of security and workflow features for the media market thatDMOD has.”
“Few firms have the rare opportunity to change an industry, and DMODis one of them,” said Bill Kaiser, general partner at Greylock.”Already DMOD has produced impressive results for some of the leadingentertainment and media firms in the world. We look forward to workingclosely with DMOD to grow the company into a major force in thisdynamic market space.”
DMOD WorkSpace has been actively deployed at major media firms forover a year and is used by RCA Records, Sterling Sound, a renownedmastering studio in New York, and NBC’s post-production staff, amongother labels, studios, and video production firms.
“We’re pleased at DMOD’s success in addressing a specific B2B marketneed with a unique value-added solution,” said Eric Krauss, generalpartner at Pilot House Ventures Group. “DMOD has built an exceptionalteam and we’re delighted to help support the company’s growth.”
“DMOD is proud to have the backing of such esteemed investors,” saidMark Overington, president and CEO of DMOD. “Their on-going strategiccontributions are invaluable to DMOD’s success, and this additionalfunding will allow us to expedite initiatives aimed at developing newsolutions and growing revenues.”
DMOD Inc. provides secure digital media workflow and distributionsoftware solutions for the media and communications industry. DMOD’ssolutions prevent high-value content from being distributed inunauthorized ways, while simultaneously addressing inefficiencies inthe digital production workflow. Weaving together industry-standardencryption technologies, DMOD has developed a patent-pending real-timeencryption methodology that provides the highest level of control fordigital media assets — including music, video, graphics, text,software applications, and more. DMOD leverages this technology indeveloping software applications and OEM solutions that allow contentcreators and owners to concentrate on the quality and value of digitalassets, not the means for securing and protecting them. Founded in1996, DMOD is headquartered in Boston with offices in New York and LosAngeles. DMOD is privately held and funded by Greylock and Pilot HouseVentures Group. For more information on DMOD, visit www.dmod.com.