Israel’s Video Platform Wibbitz Raises $20M

October 24, 2017 | Israeli-based AI video creation platform Wibbitz has raised $20 million in Series C funding. The round was led by Bertelsmann Digital Media Investments (BDMI) with contribution form The Weather Channel network, The Associated Press, TF1 Group, and existing investors like NantMobile, lool Ventures, and Horizons Ventures. Wibbitz will use the funds to continue expanding globally in areas like product, design, sales, marketing, support, development, etc. The Tel Aviv company will also use its funds to invest in the advancement of the artificial intelligence technologies and automation capabilities of its web-based platform for a better user experience. They also hope to launch products for new markets. Wibbitz uses artificial intelligence to create short videos based on text news stories. The company also has an office in New York. It was founded in 2010 by Zohar Dayan and Yotam Cohen who are the current CEO and VP of Business Development respectively.