WeVideo Raises $19.1M For Cloud-Based Collaborative Video Editing Platform

WeVideo has just secured $19.1 million for its cloud-based collaborative video editing platform, in a round led by Crest Capital Ventures of Houston, Texas. The company says it plans to use the funding to further ramp up its B2B focused development team.

Unlike desktop editing software, which is restricted by computer hardware limitations, WeVideo’s online video editing solution can scale up processing speeds on demand, based on end user’s needs. As users move up through the company’s paid tiers, speeds increase, as does the available storage space and video resolution.

For those unfamiliar with WeVideo, the Sunnyvale, Calif.-based startup, first launched in fall 2011, and is a spinoff from a European venture called Creaza, which offers a similar, but education-focused, movie editor to a quarter million students across Europe.

In addition, videographers can collaborate on projects together, where all project members can share their video clips via a single interface. (This feature is available to paid users only).

The company is notable for having formed a partnership with YouTube in October which saw it integrated directly on YouTube’s website itself at YouTube.com/create. WeVideo also recently celebrated its commercial product launch, a partnership with Qatar Foundation International (www.qfi.org), adoption by Startup Idol and the TechZulu news organization, the launch of a power video editing app for Android tablets and more.

So yep, they’ve been busy over there.

CEO Jostein Svendsen previously estimated the service would amass over a million users by year-end 2012.

Developing…