Wochit Raises $11M to Help More Brands and Publishers Become Video Creators
Wochit, a video-creation and monetization startup for video creators, publishers, and brands, has raised $11 million in a new funding round led by Marker LLC.
If there’s a video startup you should have an eye out for, it’s Wochit. Founded by Israeli entrepreneurs Dror Ginzberg and Ran Oz (pictured), the company is banking on companies and brands that are looking to tap the increased appetite for online video content, but don’t have the production resources to make it happen on their own.
The technology is very impressive (I explore it in more detail here), but in a nutshell: Wochit is very, very good at turning text into high-quality short-form videos in a short amount of time. You can imagine how that could be appealing to media companies and brands, especially when looking to create and distribute relevant video content in real time.
With the new capital, Wochit says it will look to expand its business to more brands, publishers, and multi-channel networks — and eventually, anyone who wishes to create short-form videos.
“Today brands and traditional publishers are struggling with ways to bring the power of video to their content,” said Rick Scanlon, Partner at Marker LLC, in a statement. “Offering a truly unique solution in the marketplace, Wochit disrupts the expensive and time-consuming video production industry by providing a video creation platform that enables their clients to tell their own stories in studio quality video within minutes.”
Existing investors including Cedar Fund, Greycroft Partners, and Redpoint Ventures contributed to the round.
Wochit had previously raised $4.75 million from these investors.Tags: financing, Greycroft Partners, marker llc, monetization, News Video, Redpoint Ventures, Startups, Wochit