February was a busy month for online video software platforms with five companies receiving venture funding for a total raised of nearly $50 million in funding. Across the vendors funded there is a common theme: they are all either AI video generation platforms or pure content creation software tools.
If you haven’t noticed already, AI generative technology is where investors are placing their bets in an otherwise very quiet investing period as the economy and political climates figure themselves out. AI video is somewhat at the center of the movement and in 2023 we will start to see marketers start to make the shift the way they script, produce and distribute video to a re-envisioned automated workflow and content creation engine based on AI.
With all that said, let’s get into the funding news:
Scoot has announced a funding round of $12 million in a Series A led by Woodland Capital. This recent capital raise brings Scoot’s total funding to $16 million. This level of investment makes Scoot one of the top video conferencing software companies in 2023.
Canadian smart video platform company IrisCX has raised $4.6 million in a seed funding from Arthur Ventures. This round of funding brings IrisCX’s total funding to $6.8 million. IrisCX raised a $1.7 million pre-seed round in June 2021 from Heron Rock Fund, Forum Ventures, and Stage 2 Capital.
GlossAi has announced it has raised $8 million in a seed funding round. The capital will be used to further expand the product and deliver on key roadmap items while at the same time scaling sales and marketing. GlossAi currently has 30 employees with an expected head count increase following the fresh influx of captial.
Enterprise AI Video Creation Software company Capsule has raised $4.75 million in seed funding to further develop and commercialize their video editing and creation toolset. To date, Capsule has raised at total of $6.75 million in capital, with a pre-seed funding round of $2 million in 2021.
Hippo Video a video platform designed for enterprises and sales teams has announced an $8 million funding round led by Dallas Venture Capital (DVC). This raises brings Hippo Video’s total capital raise to $14 million.
To see all funding announcements from 2023, click here.