Biteable, a Hobart and Melbourne, Australia-based online video maker provider, raised $2.8m AUD in Series A funding.
The round was led by venture capital firms Tank Stream Ventures and Microequities Venture Capital Fund. Following the investment, Justin Lipman of Microequities Venture Capital Fund will join the Biteable board of directors.
The company intends to use the funds to drive further global growth of the platform and make up to 50 new hires this year across development, design, marketing and copywriting.
Founded in 2014 by CEO James MacGregor, Biteable is an online platform for major brands and small and medium sized businesses around the globe to create ads, infographics, animations, explainer videos, and presentations.
Today, nearly 3 million people use the online video maker.
The platform offers a freemium model or a subscription option of $99 USD per year.