Klip, an application that lets you easily share videos with friends from your phone, has raised an $8 million Series B round led by Benchmark Capital.
Existing investor Matrix Partners also participated.
The Palo Alto-based company launched earlier this year and its app was an instant success. It cracked the top 20 in the App Store within its first week.
CNET reported that Klip was the fastest mobile video app to reach 100,000 downloads.
Founder Alain Rossmann believes Klip is creating new form of communication.
“Mobile video is essentially emerging as a new communication medium,” he tells us. “Phones are in pockets all the time, they have incredibly good cameras and good networks, and all of those things create a dialogue among users that is really mediated through mobile video.
“The other day, for example, Tiger Woods was at the Australian Open. Within one minute of him being there, our users put a video up which was available for the entire world to discuss.”
Klip is a free application, so the startup isn’t currently generating revenue. That doesn’t bother Rossmann. He’s a serial entrepreneur with a lot of success under his belt. He was instrumental in developing WAP (wireless access protocol), which first enabled mobile phones to access the Internet.
“It’s a free app, it’s free to use with unlimited uploads. We’re putting all of the energy we have into creating value and engagement for our users,” he tells us. “I’ve had three of my startups go public. I was very lucky, few people survive that many. I’ve had two acquired. I’ve learned to postpone. If we do a good job and engage users, those exit opportunities will take care of itself. That method has worked for me five times in a row.”