Miami Tech Startup’s Text-To-Video App Gets $1M In Funding

MIAMI (CBSMiami/Herald) – Guide, a new technology startup based in Miami announced Tuesday it has closed a $1 million round of seed funding from investors including the John S. and James L. Knight Foundation, Sapient Corp., MTV founder Bob Pitman, actor and producer Omar Epps, and early Google employee Steve Schimmel.

The Knight Foundation is supporting Guide through its new early-stage venture fund, the Knight Enterprise Fund, reports CBS4 news partner The Miami Herald.

Led by CEO and founder Freddie Laker and COO Leslie Bradshaw, Guide’s team of seven is focused on turning online news, social streams and blogs into video for users who may be cooking, exercising, commuting or getting ready in the morning.

The free application offers consumers a selection of about 20 “anchors” — including a dog, a robot and an anime character — that will read the article and present the accompanying photos, pull-out information and video clips in its video presentation.

Revenue drivers for Guide could include in-app purchases, advertising-based anchors and customizations from publishers, said Laker, a former vice president at SapientNitro.

Laker and his team plan to launch a public beta next month, which they plan to do with a splash at the huge technology conference South by Southwest (SXSW) in Austin, Texas.

(TM and © Copyright 2013 CBS Local Media, a division of CBS Radio Inc. CBS RADIO and EYE Logo TM and Copyright 2013 CBS Broadcasting Inc. Used under license. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. CBS4 news partner The Miami Herald contributed to this report.)

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