Company has raised nearly 10x initial target, aims for Reg. CF maximum of $428,000; CEO Sam Bogoch to be interviewed by Brian Mac Mahon of Expert Dojo tomorrow.
Boston, MA, USA | September 22, 2021 –[Press Release Wire]– Video management software vendor axle.ai is in the home stretch of its 2nd successful equity crowdfunding campaign on Republic.co, which ends at midnight Pacific Time on Monday, Sept. 27th. Axle ai is exhibiting at the virtual TechCrunch Disrupt 2021 conference ending today, and its CEO, Sam Bogoch, will be interviewed by Brian Mac Mahon of LA’s Expert Dojo startup accelerator in a live webinar tomorrow at 10:30AM ET – signup is at https://axle.ai/event-registration/ .
Axle’s previous equity crowdfunding round, in 2020, was oversubscribed, and the current round is rapidly approaching a similar outcome – over $240,000 (nearly 10x the original goal of $25,000) out of a possible $428,000 in this round is already committed. The campaign page is at https://republic.co/axle-ai , and a 3-minute pitch video featuring axle ai’s management team can be viewed at https://youtu.be/9vJ4LMUnNH8.
There is a worldwide explosion of video content. The market intelligence firm IDC has estimated that the sum of data generated globally by 2025 is set to accelerate exponentially to 175 zettabytes. A growing, double-digit percentage of this storage is used to house media files. Meanwhile, approximately 400,000 video teams worldwide are responsible for capturing, editing, and managing this content, but much of it becomes difficult to leverage soon after capture; in a report commissioned by axle ai’s partner Seagate, IDC estimates that more than two-thirds of data stored is not readily searchable or available for access after initial use. To date, axle ai has more than 700 customers worldwide, including high-profile names such as the NY Yankees, Madison Square Garden, the LA Clippers, PWC, Elevation Church, Paramount and Warner Bros. A recent profile of reality TV production house Pie Town can be viewed at youtu.be/H1xkcQ0YJO8.
The current crowdfunding round highlights axle ai 2021, the company’s browser-based remote media search software. The software includes a browser front end allowing multiple users to tag, catalog and search their media files, as well as a range of AI-driven options for automatically cataloging and discovering specific visual and audio attributes within those files. For instance, audio tracks can be automatically transcribed, with the resulting transcript immediately searchable in the timeline; likewise, axle ai provides face recognition with integrated training for new faces over time. The modular nature of the system supports additional plug-ins for object and logo recognition, and identification of sports highlights. The software can be used to create distributed team workflows for storage pools that would otherwise be siloed and hard to search.
One key for axle ai in the last two years has been its software’s ability to enable remote work by video production teams. Often, video collaboration has relied on manual transfer of files between sites, often using portable hard drives and Fedex. Having a browser-based solution gives media teams much more flexibility in managing and staffing their projects to a quick outcome, and the ability to use AI-driven engines to search and reuse the content makes it much more valuable and relevant for modern marketing purposes, especially via social media.
Given the vast amounts of video – often many terabytes – that can be accumulated by a video team in even a single shoot, this system allows rapid search and management of those files over time. The software also includes a range of plug-in panels for Adobe’s Creative Cloud application suite software. These panels allow creative team members on any Mac or Windows laptop to directly search, access, and download media files wherever they are located. In addition, the company offers a no-code workflow automation tool, Connectr, as well as a freemium speech transcription tool, Ascribe. These are complementary to its core media management software and together provide a complete solution for axle ai’s customers.
This month, axle ai announced that it had completed acquisition of Noscos, an AI/ML startup focusing on face recognition and logo recognition applications. This further enhances axle ai’s technology stack while bringing new management strength to its engineering team in Eastern Europe.
Another major announcement by the company was securing its largest deal ever – a $365,000 deployment at a major Asia-Pacific region broadcaster. Combined with other significant new customers as well as the new partnership with Seagate, this puts the company on track for a record year, with sales roughly double its 2020 tally.
Sam Bogoch, CEO of axle ai, said “For years, creative teams have expressed the need for a simplified and cost-efficient way to remotely search and manage their content. We’ve been able to build that system, and have had a great experience raising funds on Republic under the Regulation CF framework. We’ve already raised nearly 10 times our initial target”
About axle ai, Inc.:
Axle ai (http://www.axle.ai) – We make media smarter. Axle ai is the recognized leader in developing radically simple media management software. Its solutions have helped over 700 organizations improve the way they create, share and store digital video content with media management solutions that are easy to install, use and afford. axle’s radically simple media management uniquely addresses a burgeoning need and has caught on rapidly among video professionals in post-production, education, broadcast, corporate, sports, house of worship, non-profit, advertising-marketing, and government organizations worldwide.
Axle ai, Inc. is a privately held company; its founders have extensive industry experience in media asset management for creative applications. The company’s previous equity crowdfunding round on Republic was oversubscribed. Learn more at http://www.axle.ai and https://republic.co/axle-ai.
About Expert Dojo:
Expert DOJO is the most active international early-stage startup accelerator in Southern California. Since 2018, Expert Dojo has invested in over 100 startups to accelerate their growth. What makes us special is our focus on building visionary companies. We believe that if you can visualize your unicorn in specificity, you have a higher probability of achieving its full potential. That’s where Expert DOJO comes in. We typically invest in pre-seed and seed stage startups that have a product, a go to market strategy and a potential for high growth. Most of our startups are minority- and female-founded technology companies.
axle ai’s 3-minute Power Pitch by its management team:
https://youtu.be/9vJ4LMUnNH8
Press & Media Contact:
Katy Scott
axle ai, Inc.
+1 617-262-9222
https://axle.ai/
