Raise takes post-money valuation at US$2.5 million
Milestone paves the way for Vloggi’s seed capital raise in July
Fundraising was paused during COVID, before video tech investor joined round
Australian user-generated video platform Vloggi today announced the completion of its pre-seed capital raise, which has netted a total of A$750,000 (US$572,000) over two tranches. The raise values the company at A$3.3 million/US$2.5 million) and was completed in two tranches due to COVID.
The pre-seed raise paves the way for a seed capital raise expected to be in the range of US$1.5-$2 million scheduled for July this year.
Vloggi is a video production platform that combines a smart video upload tool with sophisticated cloud-based video automation tools for businesses to manipulate and license this content.
Through the combination of a smart video uploader for end users and cloud-based server-side video assembly, the platform can reduce the cost of video production by a factor of one hundred. Vloggi’s USP is making crowdsourced video marketing campaigns effortless.
Vloggi enables the creation of authentic video content at scale. Vloggi is the first crowdsourcing platform to integrate a data-led video upload tool into the ecosystem. The platform also ensures all content is licensed for re-use, eliminating the pain point of chasing IP rights.
Ten of 15 founding investors have increased their positions in the company, including Vloggi CEO and founder Justin Wastnage, as well as high-profile Australian tech investor, Brendan Leonard, co-founder of Australian analytics pioneers Capiotech.
In February, the company brought on video producer Tarryn Myburgh as one of its most significant new individual investors to date – and newest board member – while also appointing her head of video. Vloggi also appointed David Taylor-Smith to the role of growth marketing manager, in which he has presided over an almost 50 percent increase in web traffic for the platform.
“Today’s announcement marks a significant milestone for Vloggi as we continue to garner mindshare and respect as the leading platform enabling production of authentic, professional looking crowd-sourced video,” said Wastnage.
“It also follows a strong 2020 during which we onboarded several significant new customers including JAX Tyres & Autos, JUCY campervan rentals and the New South Wales Education Standards Authority (NESA), with several new high-profile deals currently in the late stages of completion.”
Vloggi was chosen by NESA to support last year’s High School Certificate awards, allowing students topping the state across more than 100 subjects to video and submit their acceptance speeches and share inspiration with their peers and communities, transcending the restrictions of COVID-19 lockdowns.
Users of the Vloggi platform are also now benefiting from important new upgrades to the platform – launched in March – including advanced API functionality, allowing for the conversion of content repositories into indexed video assets.
Extensive user feedback has also been taken on board to help develop a more flexible pricing structure with tiers for larger corporate teams and further improvements to the user interface.
“Video is now poised to explode as the dominant vehicle for creating authentic content supporting brand messaging and the building of active, engaged customer communities,” Wastnage added.
“And Vloggi is now the best-placed platform in this space to capitalise on surging interest amongst all businesses and industries looking for ways to solve the problem of how to generate quality video content at scale and for minimal cost.”
Looking ahead to its seed capital raise in July, Vloggi is fielding enquiries from a number of interested venture capital firms, family offices and fund managers. The company has been bracketed as a high growth venture and expects to announce a lead investor for the seed round in the coming months.
Founded in 2018, Sydney tech startup Vloggi is the world’s first collaborative video production platform using AI to process, sort and annotate user-generated video for use by businesses and social groups. It is a registered trademark of parent company, tech investment vehicle Ciné Souk, founded in 2017.
The company was founded by Justin Wastnage, a former director of the Tourism & Transport Forum, and founder of the Flight TV aviation video channel. Wastnage started his career with interactive digital television pioneer Static 2358 (later PlayJam) before creating video content for Microsoft. The company’s technical team is headed up by co-founder and CTO, Jeremy Giraudet who developed podcasting distribution and storytelling software for global technology companies.
Vloggi is based in the Fishburners coworking space within the Sydney Startup Hub (SSH).
David Binning, Brand Comms Bureau
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