Carnegie Mellon University (CMU) spin-out Neon receives seed backing for undisclosed sum.

Neon, a CMU spin-out that specialises in driving online video traffic, has received an undisclosed sum in seed financing in a round led by True Ventures.

Also joining the round were venture firms Mohr Davidow Ventures (MDV), XSeed Capital, and technology entrepreneur Steve Blank.

 The funding will be used to further develop Neon’s product, which automatically choses the most visually appealing thumbnail in a video with the intention of driving more traffic to the video in question. The firm’s cognitive…

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