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Investor appetite for startups innovating in the video and content creation space appears to be high, with video submission platform Vloggi today announcing it has secured an angel investor for its $1 million seed round.
The news comes hot on the heels of competitor platform Vouch raising $8 million for its team expansion ambitions, demonstrating the appeal this sector has to investors looking to own a slice of the wildly popular video content space, driven by the adoption of social media apps Instagram and TikTok.
Vloggi secured funding from angel investor Sascha-Manuel Reuter, the founder of file transcoding platform Doctape which he sold to Atlassian in 2014.
Reuter noted Vloggi was a powerful platform for brands and marketers that consider themselves serious about exploiting video content to transform messaging and communications.
“What I see in Vloggi is a horizontal tool that solves a lot of pain points around the storage, cataloguing, transcoding and formatting of video at massive scale,” said Reuter, who invested alongside a private investor in Melbourne who also took a “significant position” in the round.
According the Vloggi, the platform has experienced 212 per cent revenue growth over the three months to April 2022, helped by a 325 per cent increase in customer numbers.
It comes after the Sydney-based startup reached the ‘critical milestone’ of 1,000 active campaigns on the platform - the self-service version of which went live in April 2021.
"After switching on our self-service onboarding flow earlier this year we saw a marked increase in conversions and many more campaigns launched on the platform,” Vloggi founder and CEO Justin Wastnage said.
Among them is a campaign by US country music star Tim McGraw, whose team is collecting videos uploaded by his many fans around North America to use across social media and other channels to promote tours, new releases and other events for the chart-topping artist.
Other users include the Australian producers of Hamilton The Musical, which harnessed the platform to drive community engagement and promote performances of the show in Melbourne.
"What the pattern of new customers shows us is that collecting video submissions at scale is a key pain point for all types of businesses,” Wastnage added.
“When we speak to customers, the typical issues with setting up cloud storage folders, reformatting, tagging, formatting and editing together submissions all come out strongly.
“On top of this, collecting legal consent forms is a must for any external marketing use of customer videos. When they see our platform does it all, they are visibly relieved.”
Once the $1 million seed round closes, Vloggi is planning on launching a further funding tranche to secure an additional $2 million. The company is targeting strategic investors and is intending on launching the campaign before the year’s end.
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