Video collaboration platform Overcast plans to hire 70 people over the next three years after announcing that the company has raised €500,000 in funding.

The Overcast system is designed to integrate the storing, sharing and distribution of video content. It is aimed at a variety of businesses such as video producers, media agencies, marketers, and broadcasters. Users are able to manage large video files as easily as they might manage a Word document.

The company, founded and headed by Philippe Brodeur, had previously raised €100,000 through angel investment and from Enterprise Ireland's Competitive Start Fund. Overcast has also received funding through the Amazon Activate programme.

Brodeur (pictured) commented: “We are thrilled with the interest in our funding round, with the amount raised underlining the confidence in our product. Despite being a young company, we have already attracted a number of blue chip clients such as the Daily Mail and Dublin City University. The funding will be used to expand our headcount to help with additional product development, and also expand into new markets as companies around the world face the same challenges surrounding the management of video files.”

The startup won the Enterprise Ireland High Potential Startup SPRINT competition in 2016 and was named by Google as one of the top 40 Irish startups to watch.

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Overcast was co-founded by Brodeur and Zsolt Lorincz. Brodeur was previously responsible for creating TV3.ie and Lorincz ran his own web design business in Hungary before moving to Ireland in 2011.