Image search is one of those technology problems that no one has answered sufficiently yet, but the one that does will be rewarded richly. As Google's Chris Sacca said yesterday at the Under the Radar conference, the holy grail is to truly search for what is inside the video. This means the seach technology must index the images according to the actual subject of the video or photo, rather than just the title or tags associated with it. No one is there yet.

There are a slew of startups trying to get there. The reason is that the reward will be great. August Capital's David Hornik said, "I love photo search and whoever nails it is going to make a bunch of money."

Pixsy is one of the entrants in this race. Sacca doesn't believe Pixsy has any competetive advantage. He may be right, but it may not matter. Pixsy could achieve a positive return for investors simply by virtue of its white-label business model. For all the smaller Web sites or media companies without the resources to develop their own video search engine and who are unwilling to put a search company's brand on their own Web site, Pixsy could offer an attractive solution.

Watch CEO Chase Norlin talk about the company below. If you look above Norlin's head in the shot, you can see what is foremost in his mind as he develops Pixsy:

Tags: pixsy, undertheradar, vc, venture capital