vMix Secures Funding From Mission Ventures and Enterprise Partners Venture Capital

vMix Secures Funding From Mission Ventures and Enterprise Partners Venture Capital

SAN DIEGO, March 13 /PRNewswire/ -- vMix, an online community for the distribution of video content, today announced it has secured its first round of private equity funding from Mission Ventures and Enterprise Partners Venture Capital (EPVC).

vMix, founded by executives from Fox Studios, Universal Music Group and MP3.com, provides a custom video experience to users in a fun, free and easy environment. vMix offers exclusive tools such as PJ 60, allowing users to create their musical slideshows with custom frames from their digital photographs within minutes. vMix uses a proprietary, video content filtering management system to ensure that no obscene material is shown to the public.

"It was extremely important to us that we provided an online experience in a responsible manner," states Greg Kostello, CEO and Founder of vMix. "While our site encourages artistry with music and video, as seen with our recent promotion with Twentieth Century Fox Home Entertainment's 'Walk The Line,' we knew it was critical to partner with the studio in a legal, licensed manner in respect of their copyrights."

The funding will be used to expedite vMix's rapid growth, enhance the site's offerings and product development, as well as expand sales and marketing efforts.

"We are thrilled to be a part of vMix during this time of exponential growth within the user generated content market via hand held devices and the web," states Robert Kibble, Managing Partner from Mission Ventures. "Online video has become a global phenomenon and we are confident that vMix will continue to deliver the very best in technology and content."

Carl Eibl, Managing Director of Enterprise Partners Venture Capital said, "vMix pairs a compelling vision for user-generated video with a founding team that offers a strong 'mix' of technology, entertainment, and business experience. The company perfectly illustrates why Southern California is the creative hotbed for the next generation of digital media opportunities."

vMix, is a global, online community for personal video sharing between content providers and viewers. Created by the executives, engineers and artists from the original MP3.com, vMix is a venue where amateur and professionals can communicate with one another using the powerful medium of video and music. Unlike other video websites, vMix is dedicated to nurturing artists by providing a platform for their music videos to be actively featured and promoted. vMix is wired into the music industry with an executive team from Vivendi-Universal, Virgin Records and MP3.com and hopes to provide a new way for talent to be seen, heard and signed. For more information please check out their website at www.vmix.com.

Mission Ventures holds over 60 years of investment and management experience in Information Technology and helps build successful enterprises in Southern California and creates superior returns on investment for its investors. This is accomplished by investing in the most promising early-stage companies in high growth, emerging markets, and providing significant assistance to those companies as they develop. The Partnership brings value-added capital, experience, management talent, and guidance to the most outstanding and innovative ideas and entrepreneurs in the region. www.missionventures.com.

Enterprise Partners Venture Capital (EPVC) was founded in 1985 and is the largest venture firm headquartered in Southern California, with over $1.1 billion in capital under management. EPVC focuses on seed, early stage and promising later stage companies across a broad spectrum of technologies and the life sciences. The firm is currently investing its sixth fund. www.epvc.com.

Source: vMix

CONTACT: Taulene Ayoub of The Regan Group, +1-323-735-8700, ext. 223,
tayoub@theregangroup.com, for vMix

Web site: http://www.epvc.com/

Web site: http://www.missionventures.com/

Web site: http://www.vmix.com/

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