Thursday, May 10, 2007

Sequoia Media Group Raises $8.8M

Draper, Utah-based Sequoia Media Group announced Wednesday that it concluded an equity funding round that worth $8.8 million. The capital, which was provided by equity partner Amerivon Holdings LLC, came in the form of debt-to-equity conversion and supplemental cash. With its debt eliminated and additional cash in hand, Sequoia said it planned to broaden the reach of its flagship aVinci Experience multimedia authoring software. Sequoia Media Group develops applications that help users create virtual photo albums and video diaries. More information »