Wibbitz, a Tel Aviv, Israel- and New York City-based text-to-video startup, raised $8m in Series B funding.
The round was led by NantMobile with participation from existing backers Horizon Ventures, lool ventures, Initial Capital and Kima Ventures.
The compny intends to use the funds to expand into the U.S. market growing its business development, sales, marketing, and editorial teams, with plans to hire about 20 new employees within the next few months.
Founded in 2011 by CEO Zohar Dayan, Wibbitz provides publishers with a text-to-video platform to increase video inventory and monetize their content with pre-roll ad space.
The company is now launching its B2B platform and focusing on new features to expand its publisher services. It has invested in the development of its comprehensive Control-Room solution, a video creation platform that provides publishers with editorial control over branding narratives, visual components and the option for human voiceover.
Wibbitz has research and development and engineering team in Israel.