Panopto Completes $4M Equity Offering - CTTEC - Carnegie Mellon University

Tuesday, January 4, 2011

Panopto Completes $4M Equity Offering

According to an SEC filing, Panopto, Inc. completed a $3.98 million equity offering.

The financing adds to the $1.69 million raised in April of 2010.

Panopto provides integrated audio, screen and video capture software for the corporate, education, government and healthcare markets. The company was founded in 2007 with technology developed at Carnegie Mellon University.

Panopto's flagship product is Panopto Focus, a video, audio and screen recorder that enables users to capture and broadcast presentations, city council meetings, lectures and live events.

Named in the filing were William L. Guttman, PhD, executive chairman of the board; Eric Burns, chief operating officer; William L. Scherlis, PhD, chief scientist; and directors Mark S. Kamlet, Provost and Executive Vice President of Carnegie Mellon University, currently serving as Acting Dean of the Tepper Business School; Lawrence Kinsella, chief financial officer of iCarnegie; and Jay L. Panzarella,an attorney with the Schnader law firm.

Dr. Guttman is Special Advisor to the Provost of Carnegie Mellon University, and Chairman of iCarnegie, Carnegie Mellon's for-profit education company. He previously co-founded Cylab, university-based research initiatives focused on dependability and security in software and networked systems. He is also a partner Philadelphia-based TL Ventures.

Dr. Scherlis is a professor in the School of Computer Science at Carnegie Mellon University (CMU). He is the founding director of CMU's PhD program in Software Engineering and director of CMU's Institute for Software Research (ISR) in the School of Computer Science. He chairs the National Research Council (NRC) study committee on defense software producibility and is a member of the NRC study committee on cyber security.

Burns was the co-inventor of the SlideCentric and Focus courseware projects at Carnegie Mellon University and oversaw the design, development and implementation of both systems. He went on to become a senior engineer at Microsoft Corp, spending two years helping to lead development of the Books and Academic search engines for Microsoft's Windows Live division.

Article courtesy ofCitybiznews