JumpStart Invests $250,000 in BoxCast

CLEVELAND, July 1, 2013 /PRNewswire/ -- BoxCast (www.boxcast.com), which has developed a plug-and-play Broadcast Box, has received a $250,000 investment commitment from nonprofit venture development organization JumpStart Inc. (www.jumpstartinc.org). The Cleveland, Ohio-based company's solution allows anyone with a camera to conveniently stream standard and high-definition live video to BoxCast's cloud-based service for retrieval at any time and from any location.

"Every gathering these days has a camera running somewhere, but that footage is not always shared," says BoxCast founder Gordon Daily."BoxCast ensures that anyone with a device that connects to the internet—from tablets and cell phones to personal computers—can watch the event as if they were there in person."

BoxCast's Broadcast Box automates an otherwise cumbersome process and enables organizations to both reach and expand their audience.  The company's initial customers include churches looking for an easy-to-use option to expand their outreach as well as high school and college athletic departments who want to broadcast their sporting events, as a way to capture lost ticket sales.

"BoxCast's low-cost, easy-to-use—but very high-quality—video broadcasting system is a potential game-changer for a variety of markets that cannot afford expensive recording equipment and crews," says JumpStart Venture Partner Lee Poseidon. "We are excited to be backing a promising team and technology that can grow and scale very quickly."

In addition to JumpStart's investment, BoxCast has received funding from the Cuyahoga County North Coast Opportunities Fund and the Innovation Fund, and was awarded a MAGNET Product Acceleration & Technical Assistance (MPAcT) grant. Daily also acknowledges the encouragement the company received from Northeast Ohio Fortune 500 industrial automation company Rockwell Automation. "Rockwell Automation knows how to inspire innovation," said Daily.  "They provided me with technical and patent access, and emboldened me to take my idea and develop it commercially."

BOXCAST BoxCast is a live videostreaming company helping organizations reach their audiences, wherever they are. The Cleveland, Ohio-based company provides professional, turnkey video broadcasting solutions without unnecessary complexity or expense. BoxCast has pioneered autonomous Internet broadcasting technology to enable the most reliable and affordable experience. To learn more, visit www.boxcast.com.

JUMPSTART INC. JumpStart accelerates the successes of diverse entrepreneurs, their companies and the ecosystems supporting them. Since 2004, the nonprofit development organization has given intensive business assistance to more than 380 entrepreneurial clients and been an investor in 75 early stage Northeast Ohio companies. For more information on the nonprofit development organization, visit www.jumpstartinc.org and follow @JumpStartInc on Twitter.

SOURCE JumpStart, Inc.

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