The newly-raised capital will be used for global market expansion
Singapore-based cloud video production platform 90 Seconds has raised US$7.5 million in a Series A round led by Sequoia India. Participating investors include SKY TV NZ, Airtree Ventures, Beenext and Fotolia founder Oleg Tscheltzoff.
The funds will be used for global market expansion. In the coming months, the company plans to continue increasing its supply of creators, expand into countries such as Thailand and enable faster response and wider global coverage.
“We want to increase real time monitoring of video shoots. For example, a brand could simultaneously conduct shoots in five different countries within days or even hours,” said 90 Seconds Founder Tim Norton.
It will also continue its integration of other cloud storage platforms such as Dropbox, Google Drive and other adhoc cloud platforms, and stock photo databases such as Shutterstock.
Launched in 2010, 90 Seconds is a SaaS platform that not only connects clients to a pool of creative video production freelancers and agencies, but also provides a suite of workflow tools to manage the project from the concept to the post-publish stage.
This include specifying the stylistic parameters (for example, edgy, serious, lighthearted, etcetera) and deadlines for the video crew to abide by. Clients can also review footage on their smartphones.
To engage its services, clients pay a subscription fee monthly, which is converted into credits to be used on the platform.
Unlike platforms such as StudioNow, 90 Seconds aims to deliver the whole video production process through cloud, said Norton.
Video production is a complicated process; revisions, reshoots, new edits, and change of stylistic guidelines are a common occurrence.
90 Seconds allows clients to incorporate these changes in any stage of the shoot by purchasing additional production packages (for example, more edits, graphics or shoots).
Using data, the matching of clients and their suitable video production providers becomes more transparent; ratings are displayed for each creator, including their stylistic specialisations.
Currently, 90 Seconds has a pool of 5,000 creators — including videographers, directors, editors and even drone operators — across 70 countries specialising in 40 categories including interviews, music videos, and mini documentaries.
To date, it claims to have produced over 10,000 videos and has generated an increase in revenue of over 300 per cent in the last year.
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