Video editing subscription startup Clipchamp – think Canva for moving images – has raised $13.2 million in a Series A as it pushes into the US market.
The round was led by Seattle VC firm Tola Capital with support from Steve Baxter’s syndicated investment platform, TEN13, and existing investors.
Tola Capital partner Aaron Fleishman will join the Clipchamp board.
Clipchamp launched five years ago in Brisbane, and retains its HQ there, while reincorporating in the US. The business says it now has more than eight million registered users globally, doubling the number of people using its online video editing program, Create users in the last year.
Create is designed to help people easily produce video content for the likes of YouTube, Facebook and Instagram, but is also targeting the corporate sector hungry to produce video content for marketing, HR, or other communications
The business also recently launched an Australian collaboration with Dropbox and co-founder and CEO Alex Dreiling sees partnerships as key to his growth strategy, especially as it seeks to expand in the US.
“Our partners are able to deliver enhanced user experiences to their vast user bases because of us, increasing adoption, usage, and retention for both parties. We see significant potential to continue to grow using this approach,” he said.
Clipchamp will continue to grow its team in Brisbane and the US office, reling on Tola for support and advice.
“The Tola team are very hands-on in their approach, which will be invaluable for us as we set out to build a team and office in the US, as well as establish strategic partnerships to grow our reach to the enterprise segment,” Dreiling said.