Singapore’s 90 Seconds gets Series A from Sequoia

According to a statement, the investment also included participation from VC firms Airtree Ventures and Beenext as well as New Zealand's Sky Network Television and Oleg Tscheltzoff, founder of online image provider Fotolia. The capital will be used to develop technology and improve customer experience as well as to drive expansion into new markets in Asia, the US and Europe.

"The 90 Seconds team has done a terrific job in building the leading global marketplace for video production," Pieter Kemps, vice president at Sequoia, said. "In the large and rapidly growing video market, they offer creative talent and agencies a unique workflow platform to work together on global projects. This has enabled them to build a fast-growing and rapidly scaling model."

Formed in 2010, 90 Seconds offers a mobile-compatible marketplace for more than 5,000 collaborating video production professionals. The service is active in over 70 countries and has established itself as a regular platform for companies including Visa, PayPal, Sony, Samsung, Barclays and Microsoft.

The company claims to have posted a more than 300% increase in revenue during the past 12 months and counts 70 employees across Singapore, Tokyo, Manila, Sydney, Auckland and London. It plans to open offices in Hong Kong, San Francisco, New York and Berlin later this year.

Sequoia closed its fifth India fund earlier this year at $920 million, with an expanded remit to include Southeast Asia. Investments encompass companies at every stage of development with a preference for operators in the information technology space. In Southeast Asia, the firm has backed the likes of property portal 99.co, online fitness platform Kfit, and motorcycle taxi firm Go-Jek.

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• Topics
• Australasia
• Southeast Asia
• Technology
• Early-stage
• Sequoia Capital
• AirTree Ventures
• TMT
• New Zealand
• Singapore