The latest startup from serial entrepreneur Juan Benito is aimed at the growing streaming video market.
Raleigh-based Joosy's upcoming software product, JoosyCloud, will make "streaming video better -- more affordable, more reliable, more efficient," said Benito, the company's president and CEO. He previously co-founded video game company Red Storm Entertainment and business accelerator Joystick Labs.
The company's timetable calls for rolling out JoosyCloud in the first quarter of next year, after raising a round of funding angel investors. It's seeking "less than $1 million" from angel investors, including some who already have committed to backing the venture, Benito said.
Although it costs just a few pennies to stream a video, it's an expense that quickly adds up for companies that stream videos to millions of viewers, Benito said.
In addition to cutting streaming costs significantly, JoosyCloud also addresses problems such as "stuttering and stalling" that afflict streaming videos.
The technology behind JoosyCloud isn't something that Benito is talking about right now.
"We're keeping our cards pretty close to the vest as far as our secret sauce," he said.
Joosy has five employees, augmented by five contract workers.
"We have a pretty experienced team," Benito sid. "Every member has been through at least one startup."
In case you were wondering, the company's name is pronounced "juicy."
"We would have loved the regular spelling, but it was pretty much taken," said Benito.