Tuesday, April 28, 2009

Appscio Gets Investment From In-Q-Tel

Freedom, California-based Appscio, a developer of open source video and audio analytics tools, said today that the firm has become a portfolio firm of the CIA's venture capital arm, In-Q-Tel. According to Appscio, it is in a strategic partnership and technology agreement with In-Q-Tel. Details of the partnership were not released, and no details on funding were disclosed by the firm. Appscio provides an open source software product which helps manage metadata from video: the firm said its products have "broad applications" for government and commercial users. The firm's software can be used for face detection, automatic speech recognition, and other media processing of video.