Vidooly, a video intelligence startup, has raised Series A round of funding worth around $1.4 million (Rs 8.9 crores) from Gujarat Venture Fund Limited (GVFL) and Times Internet.
The company will utilize the funds towards product engineering, marketing, and enhancing sales & distribution channels. Vidooly will also look to further expand into the domestic market and reinforce its presence in the international markets of US, Europe & Asia.
Talking about the fund raise, Nishant Radia, Co-Founder said,
We are extremely excited to have GVFL and Times Internet on board for our Series A. Video consumption over the last couple of years has exploded given faster and affordable internet access and also the rising demand for devices and high quality online content. We plan to utilize the funds raised, to expand in attractive markets such as U.S., Europe & Asia and also strengthen the team at Vidooly. With the rise of video platforms, the demand for video intelligence has grown multifold and we aim to be a dominant player in this space globally.
Sanjay Randhar, MD, GVFL said,
In recent times, the online video market globally is in a hyper growth mode with millions of users embracing web and mobile videos. Vidooly’s cross-platform video analytics platform offers a compelling value proposition to stakeholders across the online video ecosystem, be it content creators or brands, by delivering intelligent insights on audience video consumption behavior.
Abhishek Gupta, COO, TLabs(Times Internet Startup Incubator) said,
There has been tremendous growth in videos over the past couple of years and yet there are very few tools that creators can use to understand their audience and their likes/dislikes. We are really excited that Vidooly team understands their audience and their likes/dislikes. We are really excited that Vidooly team understands the pain points of creators and continue to build the platform for them to succeed.
Vidooly was also a part of the Times Internet backed startup incubator Tlabs in its accelerator program in 2014. The company’s online video intelligence software platform allows content creators, brands, multi-channel networks, agencies & media companies to drive more engagement to their video content.
Vidooly’s audience and content insights empower video teams to optimize their media buy at scale, refine their content, distribution & optimization strategy, find and partner with influencers as well.
Since it’s inception, over 20,000 video content creators across globe have signed-up on its platform from 28+ countries to grow across social video such as YouTube, Facebook, Instagram & Twitter.
With the rise of newer technologies and formats such as live streaming, Virtual Reality, Online streaming, Augmented Reality, 360 degree videos and the like, the need for data driven content creation and analytics will be in demand and on the rise.