About Stream Ventures
Stream Ventures does not have significant operations. Previously, it was engaged in providing branded or white labeled asset based financing solutions to small and mid-sized businesses, and to public sector organizations.
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Mar 25, 2018
Share Tanks Stream Ventures and Microequities Venture Capital Fund have led a $2.8 million raise in video production software company Biteable. The business, which was founded in 2014 by brothers James MacGregor and Simon Westlake with friend Tommy Fotak, helps businesses conceive, create, edit and distribute video content. Since the start of 2015, the company has gone from 120,000 to more than 3 million users worldwide and Mr MacGregor said the new funding would let it triple its staff numbers in the next 12 months. "[We'll be] hiring up to 50 new staff members across development, design, marketing and copywriting," he said. Biteable chief technology officer and co-founder Tommy Fotak, left, and fellow co-founders Simon Westlake, who is creative director, and James MacGregor, who is CEO. "Video is the new king of content, and we're keen to show businesses how Biteable can help them level up and achieve bottom-line results. We want to continue solidifying Biteable's position as the world's leading on-demand video production software. " Advertisement Despite growing at close to 10 times each year, Mr Macgregor said it hasn't been smooth sailing, and put its survival down to lots of "gut instinct decisions." "As with any start-up there's a large period of time where you have to do things like convince your partner that it's fine to quit your job to work on an idea with no income coming in... It's a very fragile stage," he said. "Not everybody will 'get it' so the challenge is knowing what advice you should take on board and what you should ignore. I can think of a dozen early meetings we had with potential investors, partners and customers, which could have thrown us off onto a completely different pathway. Justin Lipman of Microequities Venture Capital Fund will join the Biteable board of directors, currently composed of the founders and Tank Stream Ventures managing partner Rui Rodrigues. "In the same way that Weebly and Canva have democratised the creation of websites and design collateral respectively, Biteable is driving down the barriers to do-it-yourself high end video production," Mr Lipman said.