Video analytics startup Vidooly raises seed funding from Bessemer Venture Partners
Noida-based Vidooly Media Tech Pvt Ltd, which operates online video analytics startup Vidooly.com, has raised an undisclosed amount in a seed round of funding from Bessemer Venture Partners (BVP), the company said on Thursday.
The firm will spend the money in enhancing the product and team and for client acquisition.
The startup, featured on Techcircle's video show -- TC Show Off, was founded in November 2014 by Subrat Kar, Ajay Mishra and Nishant Radia. Khar has a degree in chemical engineering from Rajiv Gandhi Proudyogiki Vishwavidyalaya, Bhopal; Mishra did his engineering from Uttar Pradesh Technical University while Radia pursued his B Tech from Amity University.
The startup offers a YouTube-intelligent marketing and analytics suite that helps content creators, brands and multi channel networks (MCNs) increase their views, build an audience base and earn more revenues. Its software suite offers features such as video tag suggestion, best time to upload, search rank analysis, competitor tracking, subscriber behaviour analysis and influencer collaboration.
It claims to have over 2,000 individual YouTube channels such as Bollywood Hungama, Glamrs, appuseries and India Food Network in its list of customers using the dashboard. It also says nearly 120,000 videos are uploaded every month through its network while its big data engine analyses 500 million plus monthly videos through its platform.
"Video consumption globally is a mega-trend and comprises an estimated 60 per cent plus of all data traffic on the web. We are excited to partner with Subrat, Nishant and Ajay early in their journey of creating a video analytics product which will help expand the video ecosystem by giving intelligent and actionable insights to creators, MCNs and brands," said Aakash Goel from Bessemer Partner Ventures.
He noted that Vidooly is BVP's second investment in the video platform/tooling space globally after VidYard, a video marketing and sales enablement platform.
More than 300 hours of video is being uploaded on YouTube every minute, of which 90 per cent generate less than 10,000 views in the first one-month, said Kar, CEO and co-founder of Vidooly.
"Currently, content creators are putting a lot of effort to create good quality content, but the problem is that they find it difficult in targeting the right kind of audience to watch the content. This is where we step in," he added.
The company started its business in India and is now focusing on the Middle East and Southeast Asia as part of its expansion.
With rapidly growing smartphone and internet penetration, India has become a large market for video consumption. Internet video traffic in India is expected to grow nine times between 2013 and 2018, according to Cisco's Visual Networking Index (VNI). Internet video traffic will reach 2.2 exabytes per month in 2018 or 72 per cent of all Internet traffic in India, according to the report.