NEW YORK, NY, VidMob announced today that it has closed an additional $6.4M extension to its previously announced Series A financing.
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VidMob announced today that it has closed an additional $6.4M extension to its previously announced Series A financing. The additional funding will be dedicated to growing the company's Engineering and Data Insights teams and expanding the company's presence with the opening of a London office.
VidMob focuses on building technology solutions aimed at making human creativity more scalable, adaptable and accessible, and this latest round of capital is aimed at providing marketers with real-time insights into what drives creative asset performance. The company's global network of highly trained creators applies those insights and rapidly iterates on video assets to increase the performance of video marketing campaigns.
The company has raised $20M to date, achieved a tenfold increase in revenue in the past year, is a badged creative partner with Facebook, Instagram, Snap and Twitter, and works closely with Pinterest, YouTube and Linkedin. In just two years, VidMob has amassed a large roster of global brand clients including InterContinental Hotel Group, Mondelez and BMW, and agency partners including Mindshare, Wavemaker and Universal McCann. The opening of its London office and hiring of former Google executive James Bacon will pave the way for continued international growth.
This latest round of funding includes a new VidMob investor - You & Mr Jones, the world's first Brandtech group, founded and led by David Jones, former Global CEO of Havas. The group's portfolio includes Pinterest and Niantic (creator of Pok√©mon Go), as well as several companies centered on video innovation. Existing VidMob investors also invested heavily in this round, led by Manifest Growth, Interlock Partners, Acadia Woods and Macanta Investments. The Series A extension raise reflects the growing need for innovative technology solutions in marketing communications and is a direct result of the significant increase in the demand for VidMob's services following its Series A last year.
Alex Collmer, VidMob CEO, stated: "As the way people communicate with each other evolves, so must the processes underlying the creation of marketing communications. The formats, platforms and rules of engagement are moving targets and now more than ever, brands have to be in a constant learning mode to get messages and timing right. We have always said that our mission was to create a million jobs, and we hope the technology solutions we're building today will empower our community of expert creators to produce even more inspired content, driven by creative insights."
David Jones, founder and CEO, You & Mr Jones, said: "Video content is increasingly becoming a bottleneck for major brands as they struggle to produce the huge volume of content they now need at the speed and cost that social channels require. VidMob has built a hugely scalable technology platform that delivers this brilliantly. They are a great complement to our people-powered marketing companies MOFILM and the Amplify. We're excited to be part of the round and of what will no doubt be a very impressive future."
Paul Falzone, managing partner of Manifest and VidMob board director, stated: "We have all been extremely pleased with VidMob's proven ability to execute on their mission. While VidMob didn't need the capital, we felt that adding more fuel at this stage would accelerate their development as the ideal partner for brands and advertisers to create and distribute content at scale."
VidMob is the world's leading video creation platform with innovative technology solutions that enable a network of highly trained creators to develop marketing communications that are insight-driven, personalized and scalable. VidMob creators produce the full spectrum of video content across every social/digital channel, format and language. VidMob is an Official Marketing Partner of Facebook, Instagram, Snapchat and Twitter and the recipient of two top industry awards in 2017, Instagram's Innovation Award and Twitter #Promote.