Singapore's 90 Seconds raises $20m Series B round
Singapore video platform operator 90 Seconds has raised a $20 million Series B from a group including Susquehanna International Group (SIG), Australia’s AirTree Ventures, and Sequoia Capital India.
UK-based Atami Capital, Australia's Right Click Capital, and Singapore's Qualgro Venture Capital also participated. It follows a $7.5 million Series A in 2016 that included Sequoia, AirTree, Beenext, and New Zealand's Sky Network Television.
Founded in New Zealand in 2010, 90 Seconds offers a cloud-connected video production and sharing marketplace in more than 900 cites globally. The service helps corporate clients better engage with audiences by connecting them with an ecosystem of video production professionals who can create tailored content. The company has worked with more than 3,000 brands including Google, American Airlines, Kraft, McDonald's, and Amazon.
"The biggest challenge for brands these days is to cut through the noise and get the attention of customers, to truly engage with them," Pieter Kemps, a principal at Sequoia, said in a statement. "With video being the most engaging type of content, we have seen huge demand for new ways to produce video at scale. We have been impressed with how 90 Seconds is emerging as the leading video creation platform."
90 Seconds claims to have grown more than 400% in the past three years. During this time, new offices were opened in Hong Kong, San Francisco, and Berlin, adding to an existing footprint across Singapore, Tokyo, Manila, Sydney, Auckland, and London. A New York office is in the planning stage. Meanwhile, the team has increased from 70 to 130, supporting the production of 30,000 social media and television videos to date.
The fresh capital will be used to expand the video creation network, which currently stands at about 12,000 professionals such as videographers, animators, and drone operators This is expected to give clients better access to end-customers in remote regions. The investment will also support automation of the business model and improved market intelligence for the customization of user-experience and scaling strategies.
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