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    Categories: Information technology

VidCrunch secures $2.5 MM in growth capital for European & APAC expansion

Content-based monetization frontrunner, VidCrunch, has reportedly closed a multi-million-dollar financing facility from SVB or Silicon Valley Bank, a major bank that caters to globally leading innovative companies and their investors.

The company, which is also a Google MCM Partner, initiated this move in order to expand its global sales team and enhance its engineering resources whilst continuing its ongoing investments in content curation, product development, as well as the creation of its publisher portfolio.

The investment will apparently provide an additional layer in the firm’s financing, on top of $2 MM, which had been secured by the well-known Silicon Valley angels.

For the uninitiated, the Miami-based content firm develops as well as promotes its Smart Video Producer™ technology, to automate the curation and publishing of the video content for web, app, and CTV publishers.

Executive Chairman of VidCrunch, Oded Pelled, has reportedly stated that the company witnessed tremendous success across APAC and Europe on account of its services to premium publishers, including CNN Philippines, GMX.net, Manorama Online, Web.de, and Mail.com, among others. He claimed that content curation, along with the company’s MCM (Multiple Customer Management) partnerships with Google and other SSP as well as DSP partners and agencies, due to investments in monetization technology, has led to substantial business growth at much higher rates than the overall industry.

He further divulged that these solutions would enable the firm to stay ahead of the significantly complex needs of both their publishers and advertisers.

Meanwhile the Vice President of Silicon Valley Bank, Josh Mackey expressed delight in offering the credit facility to VidCrunch given the company’s consistent expansion towards publishers within more territories with an outstanding retention rate. He also alluded to the team’s goal in providing the company with the required financing, connections, and global services to help it attain success.

Source Credits

https://www.prnewswire.com/news-releases/vidcrunch-secures-2-5-mm-in-growth-capital-from-silicon-valley-bank-svb-to-enhance-its-content-advertising-platform-and-to-fuel-european-and-apac-growth-301301985.html

Pranali Mehta:

Pranali Mehta boasts of over three years of experience as a content writer. Having completed her graduation in chemical engineering, she worked as safety & environment associate in a chemical company for a year. Harnessing her passion for writing however, Pranali decided to pursue content development as a full-time career and has written several diverse articles. Her other interests include reading, binge-watching movies & web series, gardening and home décor.

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