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Silver Spring-based ReelGenie Closes 850k Funding Round

07/28/2013

Entrepreneurship apparently runs in the Adelman family. Many know Ken Adelman, former ambassador to the United Nations and former director of the U.S. Arms Control and Disarmament Agency. He and his wife, Carol, have a funky company, called Movers & Shakespeares, which uses Shakespeare plays to teach leadership, management and strategy to business organizations.

Their nephew, David Adelman, a Harvard grad with an MBA from the Wharton School, recently closed an $850,000 funding round for his start-up, Silver Spring-based ReelGenie.

The company, which will debut in November, runs a Web service that helps families turn online photos and content — think weddings, Christmas, bar mitzvah, graduations — into videos.

David Adelman said the investors are led by local early-stage investor Cal Simmons, whose portfolio includes technology company Parature, burger chain Five Guys and hospitality site Five Star Alliance. Others investors include CNF, which is the venture capital arm of Clark Enterprises; the state-sponsored Maryland Venture Fund, faculty members from Wharton and other local investors. The round follows a $111,000 “friends and family” fundraiser last year, and will be used to fine-tune the product and hire more employees.

“This is a Web site that you go online and create a video on,” said Adelman, who has seven full-time employees and five part-timers.

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