Palo Alto, Calif. – VideoGenie, the provider of a customer-submitted video platform for businesses, said on Thursday that it has raised $2 million in its first round of funding, led by Blumberg Capital.

Previous backers including Google chairman Eric Schmidt’s Innovation Endeavors also participated.

Launched in May 2010, Palo Alto, Calif.-based VideoGenie’s platform has been used by clients including Levi’s, Intuit and Sony Music to power video-based testimonials and reviews submitted by customers, in addition to corporate communications.

The company said it has achieved “breakeven” within eight months of launch.

VideoGenie will use the new funds for additional product development and to expand its sales team.


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