Third summit is a collective of agile companies that offer full-stack, enterprise level digital media and advertisement solutions to their mid-tier marketplace. The collective develops infrastructure for a wide range of sectors including AI(Artificial Intelligence) organization, proprietary cloud-based media transcoding, web3 integration and maximized data upload. The startup is based in New York City and its main mission is investing in building infrastructure for content creators, small enterprises and in-house brand teams.
The firm has recently raised $4.5 million in a seed fundraising round led by Florida Innovation Capital which invested $2.75 million in the firm. Funds acquired from this event will be utilized in expanding Alteon – the firm’s content creation platform that also doubles as the firm’s flagship SaaS(Software as a Service) project.
Alteon allows creators to streamline their workflows and create more rapidly by facilitating easy uploading, sharing, reviewing, archiving and collaborating in media all in a single platform. According to reports from Third Summit, Alteon has seen a 104% increase in the number of its users in the first quarter of 2023. This growth has been attributed to its alliances with The Student Televisions Network and integrations with Apple’s Final Cut Pro ecosystem.
Third Summit co-founder and CEO Matt Cimaglia said in a statement that the firm is is united in a vision to a product on a strong foundation with core principles that will keep ahead the rapidly expanding scale of the content creation ecosystem’s economy. The firm prides itself in being at the forefront of building infrastructure to steer future creativity.
Mr. Cimaglia has had vast experience that started in his early 20s when he started working in the creative and broadcast industry. In the course of his career, he took several roles including a Television Producer and multimedia curator for brands like Mercedes-Benz and Citadel. To address the challenges and issues facing him and his colleagues, he founded Third Summit and Alteon. The firm was also founded to meet the needs of professional working in that sector.
The co-founder also expressed the importance of leveraging the cloud since it has the ability to centralize storage and enabling accessibility for the whole team. This system will therefore bring efficiency in reduction of costs and time contrary to the traditional systems that rely on sending hard drives back and forth between editors and the country including international locations. This new infrastructure will also enable video transcoding and commenting.
The creative economy is currently experiencing explosive growth with an estimated 50 million+ content creators working in the ecosystem whose worth is estimated at above $100 million. The senior management at Third Summit has described Alteon as a future-proof product with a stable roadmap and strategy. The company has therefore, built partnerships with leading technology companies to develop a truly unique platform to help more content creators leverage cloud technology to create more efficiently and effectively.
