EditShare said today that private equity firm ParkerGale Capital has taken a majority investment in the company, with veteran Cisco executive Conrad Clemson joining as EditShare’s new CEO.
Company founders Andy Liebman and Tara Montford will remain the company’s largest individual shareholders, EditShare said, remaining in leadership positions as Chief Strategy Officer and EVP, Business Development, respectively.
Chicago-based ParkerGale specializes in funding accelerated growth at small, U.S. based-technology companies — a seeming good fit for EditShare. The company was founded in 2003 when Liebman, a working editor, developed its original offering as a collaborative storage solution for his team’s use on a specific television project. “With ParkerGale’s infusion of capital, EditShare will be able to execute much faster on the many more incredible product and workflow ideas we have for all of our customers,” said Liebman in a prepared statement.
Clemson has filled a number of leadership roles at Cisco, including VP and SVP positions in its service provider video software and solutions business. Before Cisco, he was CEO of BNI Video, which Cisco acquired in 2011. He had served earlier as senior director of engineering at Motorola and as SVP of technical operations at Broadbus, which sold to Motorola in 2006. He’s also been EVP of engineering at Gotham Networks and VP of engineering at Lucent Technologies.
“Andy founded EditShare in 2003 when he needed a more flexible and affordable solution for media sharing. His invention of high-performance network-attached storage for editing transformed the industry in a way others weren’t imagining at that time,” Clemson said in a statement. “With this investment, the EditShare team will be even better positioned to continue to deliver transformative solutions to an industry that is in greater demand for it now more than ever.”
EditShare’s product line includes video capture and playout servers, high-performance shared storage built around the EFS file system, its FLow production media asset management system, and the Lightworks editing platform. Recently, the company has made a push into automated QC and IMF workflow, thanks in part to its acquisition of QC specialist Quales in 2017.