Invodo, an Austin-based provider of online video software and services has raised around $1.2M of a planned $1.5M Series A financing. The company provides rich media management software and services to allow companies to utilize video to engage customers. The company claims that rich, video-based product information will decrease abandonment rates for online retailers and also decrease return rates. The company touts online exercise equipment company SPRI as an early customer, and you can view product videos using Invodo’s software and services at their website.

Investors in this round so far include Sevin Rosen Funds and S3 Ventures. S3 closed their first fund in February of 2007, and is led by former Crossroads founder Brian Smith.