Video creation platform Clipchamp has raised $13.2 million in a Series A funding round, led by Tola Capital with participation from TEN13 and existing investors.
Tola Capital is a venture capital firm based in Seattle that focuses on investing in the next wave of enterprise software companies.
Originally founded in Australia, Clipchamp also announced the company has reincorporated in the United States, with its headquarters remaining in Brisbane, Australia.
Clipchamp launched five years ago, with its video editor Create providing content creators with all the tools needed to produce video content, without relying on expensive equipment, complicated software or any previous video production experience.
Boasting over eight million registered users worldwide, Clipchamp has more than doubled its number of Create users in the last 12 months.
The video content creation market is now a $135 billion industry, with 720,000 hours of new content updated on YouTube every day.
The industry has witnessed an explosion of professional influencers and YouTube creators, while video creation has also become an essential part of business marketing activities, as organisations look to continually create and distribute fresh content across multiple digital channels.
“We are delighted to announce the close of our Series A round and the decision to reincorporate in the US. Particularly because our lead investor, Tola Capital, has a strong track record for investing in platforms that enable B2B and enterprise scenarios, which aligns with our strategy to progressively expand from individual user adoption,” said Co-founder and CEO of Clipchamp, Alex Dreiling.
“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.”
Partner at Tola Capital, Aaron Fleishman, who will be joining Clipchamp’s board of directors, said, “The proliferation of video content within companies has and continues to be exponential, whether it be from marketing, HR, or other departments.”
“Unlike traditional, complex video editing tools, Clipchamp offers a new paradigm of video editing that is rich with features to create high impact videos within minutes, while also easy enough for anyone to adopt and use it. This really empowers every business to produce high-quality video content in a much more scalable and affordable way. We are thrilled to partner with the company on this next stage of growth,” Fleishman said.