Israeli AI-driven video enhancement company minute.ly has announced the closing of an $8 million financing round with investors including Ansonia Holdings, and strategic participation by Infront, a leading sports marketing company as well as existing investor Gilad Shabtai.
The funding will be used by Tel Aviv-based Minute.ly to continue to develop its AI-powered solutions and accelerate global expansion in order to meet growing customer demands for video technology. Founded in 2014, Minute.ly has raised $12 million to date.
Minute.ly CEO and coufounder Amit Golan said, "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. 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."
Infront VP strategy & business development Christian Mueller said, "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."
Minute.ly offers a suite of products for content creators and publishers. Including: Top Videos, which automatically aggregates top performing video articles and presents internal video recommendations to consumers; mobile-first, Stories By Minute.ly; and Automated Preview Video (APV), which generates highly effective video teasers to increase click-through-rate (CTR) by more than 37%. The video teasers were utilized to great effect during the 2018 World Cup Russia, growing live stream audiences significantly. Minute.ly's offerings are supported across all platforms to trigger audience engagement and provide new revenue opportunities.
Minute.ly is already a partner of major sports, news, and entertainment networks, used on the desktop, native apps, OTT, social and search results of some of the Internet's most popular sites.
Published by Globes, Israel business news - en.globes.co.il - on July 28, 2019
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