Wednesday, January 7, 2009

Globespan helps put $8M in first round for SundaySky

By Galen Moore

Globespan Capital Partners of Boston is co-leading with Carmel Ventures an $8 million Series A funding for Israeli video software firm SundaySky Ltd., the companies announced Tuesday.

SundaySky provides a platform for real-time generation of online video. Globespan managing director Jonathan Seelig will take a seat on the board, along with Carmel general partner Avi Zeevi.

The company will use the funds to boost U.S. marketing activity while continuing to develop products, according to a statement released by CEO Shmulik Weller.

Seelig said in a statement that SundaySky’s technology has the potential to revolutionize Internet content in much the same way dynamically generated web pages did a decade ago.

SundaySky was founded in 2006 by Weller and Yaniv Axen. Its core product is the DynamicVideo platform, which is designed to extract content from any website and convert it into high-quality video clips.

Seelig’s portfolio also includes Blackwave Inc., Dotomi, Nextmedium and Provigent. A co-founder of Akamai Technologies Inc. in Cambridge, he also led Globespan’s investment in Linden Lab and served on the board of Zipcar, where he was an early investor, according to his biography on Globespan’s website.