Video production platform 90 Seconds raises US$7.5 million in Series A round
Global leader in cloud video production 90 Seconds has today announced a raise of US$7.5 million in a Series A funding round. The round was led by US venture firm Sequoia and Australian firm AirTree Ventures. The funding will become part of 90 Seconds’ global expansion strategy as it looks to change the video production landscape.
90 Seconds allows brands and agencies to access an online marketplace of creatives in over 70 countries and across 40 categories including videographers, directors, editors, producers, animators, drone operators and photographers to name a few. Creatives collaborate with each other on the platform and can purchase, plan, shoot, edit and review all commissioned work from their desktop or mobile device.
First launched in 2010, 90 Seconds has produced over 10,000 videos around the world and has worked with more than 1,000 brands and also some of the most well known global companies like Sony, PayPal, Visa and Barclays.
As well as working with brands, the SasS platform has also produced videos for global agencies through its seamless integration with video distribution platforms, storage platforms and stock libraries including, Youtube, Vimeo, Dropbox and Google Drive.
Through the recent funding raise, 90 Seconds aims to expand its global team. The startup has 70 team members working in Singapore, London, Tokyo, Manila, Sydney and Auckland. Within the next few months they will be opening offices in San Francisco, New York, Hong Kong and Berlin.
Tim Norton, founder and CEO of 90 Seconds says, “Video content is a must have in today’s world and we are proud to have developed a solution that works for brands around the globe to deliver fast, affordable content. We are excited to work with our new and existing investors who understand the opportunity 90 Seconds has.”
American venture firm Sequoia Capital is the latest to invest in 90 Seconds, and is responsible for backing some of the world’s most successful startups including, Apple, Google, YouTube and Airbnb.
Pieter Kemps, Vice President of Sequoia Capital says the US$7.5 million raise will enable 90 Seconds to build a fast-growing and rapidly scaling model.
“The 90 Seconds team has done a terrific job in building the leading global marketplace for video production. In the large and rapidly growing video market, they offer creative talent and agencies a unique workflow platform to work together on global projects,” he says.
Australian venture firm AirTree Ventures believe 90 Seconds is the future of video production.
“90 Seconds has made a real impact on how video production is being created and delivered and they will play a significant role in shaping the quality and speed of video production for large brands in the future,” said Craig Blair, founder of AirTree Ventures.
Content and video marketing, along with social media is estimated by eMarketer to be worth $118 billion, with 64 percent of marketers expecting online video to dominate their strategies in the near future. These statistics are highly favourable to 90 Seconds who have in the last 12 months reported over 300 percent in company growth.
Further technological development will be crucial to 90 Seconds plans for rapid growth. Along with product development, the startup will be looking into how customers engage with the platform and how the platform translates and performs in other global marketplaces. Looking at these two key areas will allow the team to meet the strong market demand in Asia, the US and Europe.
Image: 90 Seconds Team. Source: Supplied