Follows 3x growth for pioneering video automation platform
Austin, Texas, May 23, 2023. Videate – the pioneer in production automation for software how-to videos – announced its latest funding round. The financing brings the company’s total to $6.5 million and adds Firebrand Ventures, alongside return investors S3 Ventures and Tensility Venture Partners. The funding will accelerate the four-year-old company’s AI roadmap and growth initiatives.
"This raise expands Videate’s transformative potential. With the latest advances in generative AI and a larger team, we will empower businesses to scale and globalize their videos even faster,” said Dave Gullo, Videate’s CEO and Co-Founder.
Videate, which tripled revenues last year, is the only video automation platform that keeps how-to training and support videos up to date with every software release. Customer success, education, and product marketing teams at leading software companies – including VMware, Mandiant, Blue Yonder, Procore, and Docebo – use Videate to produce and localize videos at unparalleled speed and scale.
"Videate addresses a glaring pain point for software companies, as release cycles keep shortening and video teams are stretched thin,” said Claire Hansen, Principal at Firebrand Ventures. "In this time of incredibleinterest in AI, we're excited to partner with Videate for their next stage of growth. The addressable market within software vendors alone is enormous, and we know that’s just the start for this category-defining solution."
Videate’s customers consistently report step-function improvements to their video production speed and scale. Instructional videos that took days to produce are now completed in hours, localized into tens of languages, and automatically kept up-to-date with every software release.
Eric Engineer, Partner at S3 Ventures, commented “When we originally invested in 2021, the Videate team had to educate each prospective customer on what was possible with automation and AI technology. Fast forward to today, and companies are starting to actively seek out these tools and realize their transformational benefits. More importantly, the technology keeps getting better by the day, so there is a lot more to come!”
About S3 Ventures:
Based in Austin for 18+ years, S3 Ventures is the largest venture capital firm focused on Texas. They empower visionary founders with the patient capital and true resources required to grow extraordinary, high-impact companies in Business Technology, Digital Experiences, and Healthcare Technology. Learn more at www.s3vc.com.
About Firebrand Ventures:
Firebrand is an early stage venture capital firm with offices in Kansas City, Boulder, and Austin, investing primarily in seed stage companies in underserved and emerging startup communities. Now investing out of the Firebrand II fund, they are steadfast in their approach of investing in trusted relationships with exceptional founders.
Videate automates the creation of software videos, making it fast and easy to produce up-to-date content with every new software release. Founded in 2019 and headquartered in Austin, it is backed by S3 Ventures, the largest venture capital (VC) firm focused on Texas, Tensility Venture Partners, Firebrand, and Wavemaker Group. Customers including VMware, Cisco, Blue Yonder, Procore, and Docebo use Videate to produce videos for customer success, education and training, sales enablement, and product marketing. You can learn more at www.videate.io.