Beamr, an Israeli company that offers solutions in video and broadcasting, experienced a significant increase in its shares on Monday, jumping about 400% after announcing a collaboration with chip giant Nvidia. The company, founded by Sharon Carmel and based in Tel Aviv, had raised $7.8 million at a value of about $48 million just a year ago.
Beamr’s CTO, Tamar Shoham, explained that the technology with Nvidia addresses the challenges associated with the transition to the AV1 format while maintaining quality. This collaboration was presented at a conference in Denver and will help facilitate this transition.
Despite recording revenues of $1.4 million in the first three quarters of 2023, compared to $1.2 million in the corresponding period in 2022, Beamr expects to end 2023 with a similar level of revenues to 2022 and accelerate growth in 2024. The company is also striving for a diverse and respectful discourse, as outlined in its code of ethics, and works to filter out any inappropriate discourse that may appear on its site.