Thursday, September 13, 2012

Southern Capitol Ventures invests in BrightContext, Jones to join Board of Directors

Southern Capitol Ventures is the lead investor in BrightContext, a Virginia-based startup that focuses on applications developed from "big data." The company raised $1.74 million.

As part of the deal, David Jones of Southern Capitol, which is based in Raleigh, joins the BrightContext board. BrightContext formally launched as part of the high-profile TechCrunch Disrupt event in San Francisco earlier this week.

“We knew the BrightContext team through their previous startup, Incando, which was acquired by Scripps Networks in 2007” Jones said. "As business moves faster, harnessing value from real-time data is becoming increasingly important for a lot of companies. Making it easier to do is huge and will lead to a multitude of new applications."

BrightText says its technology enables users to process large volumes of data "on the fly" to power real-time applications such as social TV and multi-player gaming.

Other financial backers include the founders of comScore and several angel investors.

“There’s no doubt that real-time is going be one of the next major waves of innovation around the mobile and the Internet, but scalable real-time data stream processing is hard to build,” said John Funge, CEO of BrightContext, in announcing the deal. “Our goal is to make real-time data processing broadly accessible. We see big applications for the platform in areas like social TV, real-time business metrics, gaming, and mobile, but that’s probably about 20% of the possible use cases. By making things really easy, we hope to empower innovative developers to take our platform in directions we never could have imagined.”

Capitol Broadcasting, the parent firm of WRAL Tech Wire, is an investor in Southern Capitol.

This post appeared first on WRAL Tech Wire, a CED publishing partner. 

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