AI-powered video enhancement firm Minute.ly announced last week the closing of an $8 million finance round. Investors that participated in the round include Ansonia Holdings Singapore BV and sports marketing company Infront.
The Tel Aviv-based company has raised a total of $12 million to date.
The funding will help the company develop its AI-based solutions and accelerate global expansion to meet growing customer demands, a statement said.
With its proprietary technology, utilizing insights gathered from AI analysis, the company aims to “empower publishers and content creators to maximize ROI from their video content, increasing traffic, user engagement and revenue.”
“In today’s highly competitive market, Minute.ly gives publishers and content creators the tools they need to make the most of their video inventory, maximize revenue and cut back on costs,” said Amit Golan, The CEO and co-founder of Minute.ly. “This investment will enable us to continue to develop and scale our technology – already at the forefront of the online video revolution – helping bring more publishers and content creators into the video age.”
“Minute.ly’s technology will allow current and future clients to reach more fans around the world, optimizing marketing efforts in an efficient and reliable way to generate new revenue streams. Collaborating with a start-up aligns perfectly with our strategy of focusing on innovative client-orientated solutions,” said Christian Mueller, Infront’s vice president of strategy & business development, said.
Minute.ly offers products for both content creators and publishers, including Top Videos (an aggregator of top performing videos,) Stories By Minute.ly, Automated Preview Video (APV), and more.