Spool Raises $1 Million in Seed Funding
Date: Wednesday , February 01, 2012
Palo Alto based app and browser extension developer, Spool has raised $ 1 million in seed funding. The round saw the participation of SVAngel, Felicis Ventures, Start Fund, Charles River Ventures, Vivi Nevo, Steve Chen, Elad Gil, Deep Nishar, Kevin Donahue, Joe Lonsdale, Bill Lohse, David King Nils Johnson, Matt Ocko, and Raymond Tonsing. They plan to use the funds to continue building their product, upgrade the infrastructure, and support their team.
Spool was founded in November 2010 by Avichal Garg and Curtis Spencer. The founding team also includes Daniel Witte, Christine Tieu, Chandra Patni, and Aditya Koowal. The company labels itself as a hybrid between Dropbox and Google+. It is a personal internet recorder and enables users to view their favorite media on any device, at any time, regardless of being online or offline, and without worrying about the file formats or platforms.
“We see a global demand for our product and millions of potential users, spool is a tool to manage media across multiple devices and is a means to consumer Internet content even of your mobile data connection is unreliable or if you use a mobile phone with Wifi only. In both the cases, we enable a user to cache content on a device and if you have multiple devices to easily move Internet content between devices,” says Garg.
The company currently has seven employees. Spool’s target audience is anyone who has a mobile phone and wants easy access to their content. The company aims to make it easy to save the content designated in the future as the company will be able to predict the content wanted by the customers on their device without having to request it.