Wibbitz, a New York-based AI-powered video creation platform, raised $20m in Series C funding.
The round was led by Bertelsmann Digital Media Investments (BDMI), with participation from The Weather Channel television network, The Associated Press, TF1 Group, and existing investors including NantMobile, lool Ventures, and Horizons Ventures.
The company intends to use the funds for key hires across its development, product, design, sales, marketing, support and in-house editorial teams, for advancement of artificial intelligence technologies and automation capabilities of its web-based platform and for launch products built for new markets and use cases.
Founded by Zohar Dayan and Yotam Cohen in 2011, Wibbitz is an AI-powered platform supporting custom branded, short-form video creation and distribution for over 400 publishers, enabling them to increase audience engagement and ad revenues across desktop, mobile, and social.
The customer base now includes over half of the top 100 digital media companies in the U.S. and Europe with recent partnerships being formed with Bloomberg, Cox Media Group, SmarterTravel, REVOLT Media & TV, TEN: A Discovery Communications Company, Evolve Media, and the Weather Channel television network.
The company employs over 60 people across three global offices in New York City, Tel Aviv, and Paris, with plans to open more in the coming year.