St. Paul B2B Startup ilos Videos Raises $780k, Tops $1.5m Funding

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St. Paul tech startup ilos Videos has closed on $780k according to this fresh SEC disclosure.

ilos is a video communication platform for organizations to easily record, share, and store videos on the cloud.

Cofounders Nick Stokman, Sean Higgins, and Peter Fares began developing Ilos while still in college at the Universityof St. Thomas and brough it to market in January of 2015.  Earlier this year, the venture participated in Techstars Cloud accelerator based in Texas.

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Investors in this round include Matchstick Ventures, Daren Cotter, newcomer Come Up Capital; With the 780K they converted 550k in convertible notes, bringing this total preferred offering to 1.3 million and our total amount raised to date to 1.5 million.

“Now is the time for us to shine,” CEO Stokman says. “Our contractual revenue volume continues to grow about 30% month over month derived from 80+ paying customers.”

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Comments

  • Dave Mao

    I knew I wanted to invest in these guys about 30 seconds into using their product for the first time. It makes recording desktop video so insanely simple. Meeting the team made this investment a no-brainer. These guys are stars in the making. But if you’re reading this Nick, Sean, and Peter, don’t let it go to your head. In fact, get back to work! :P

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