Digital Railroad, the company that went online last year with an impressive broad range of services for professional photographers and photo agencies, today announced that it has secured a $5.2 million in venture capital from Morgenthaler Ventures and Venrock Associates (Venrock is also the VC behind Digit Wireless).
I wrote earlier about Digital Railroad, the idea, the concept, the small history of some other companies who acted rudimentary in this special business field earlier and finally how the customers, especially the single professional photographer, might benefit. Yes, the single professional photographer, the mysterious person that had been totally forgotten in the present Stock Photo Industry game of "G. buys ABC" and "C. buys XYZ".
Shortly after I published this story in August 2004 Stock Index Online published an article about Digital Railroad which was apparently wrong on some points. Finally, after some back and forth, Stock Index Online changed the article.
The internet party of 1999 is over. Remember, this company does not deal with possessing huge image libraries or vast collections of heritage images like Heritage Partners/Contentmine. Getting funding in today’s rough economic climate is a clear sign of trust and makes me think where this company might stay in two years... . Among others, new Digital Railroad members are Eyevine and CalSportMedia.
Regarding companies selling software and related services to the Stock Photo Industry, there are presently only five companies with venture capital in the background (maybe shortly six, but more about this later, after the CEPIC photo trade show).
Update: If you read the last but one paragraph here at PDN, don´t forget that the parent company of PDN, VNU USA, is also the parent company behind IPNStock.
