Video Production Platform 90 Seconds Gets $8 Million Funding Led by Sequoia India; Aims for International Expansion
Cloud video production platform 90 Seconds as raised $7.5 million funding in Series A financing. The fund will support the startup's global expansion in cloud video production as the market leader.
The financing round, led by Sequoia India, was also supported by SKY TV NZ, Airtree Ventures, Beenext and Fotolia.com founder Oleg Tscheltzoff. "We are excited to work with new and existing investors who understand the opportunity 90 Seconds has to completely change the global video production landscape," said 90 Seconds founder and CEO, Tim Norton.
In its service, 90 Seconds offers a wide cloud-based platform which could be used to handle almost every part of the process of video production. Its marketplace stored various supporting projects from more than 5000 creative professionals in more than 70 countries. Video makers can purchase video content easily from videographers, directors, editors, animators, photographers, up to drone operators.
Furthermore, the platform also supports other stages of video production. Users can plan, shoot, edit, and also review professional videos in just one place online, stored in the cloud-based platform. 90 Seconds also support any kind of video production, including interviews, events, advertisements, and animation.
According to The Economic Times, India is a key growth market for the platform. Currently, the company employed about 100 creative freelancers in the country, and the number is expected to grow to at least 500 in the next six months. In India, the creative freelancer team will be spread out to based across Mumbai, Delhi, Bengaluru, and Hyderabad.
In addition to expanding its creative freelancer network in India, 90 Seconds also has plans for global expansion. Tech Crunch reported that the startup plans to launch new offices in San Fransisco, New York, Berlin, and Hong Kong this year. According to Norton, the startup's international expansion did not start with recruiting in advance, but started based on where the customers needed to find people for shoots.
In total, 90 Seconds has raised around $13 million since its launch in 2010. As for now, it has 68 full-time staff in its Auckland, Sydney, Singapore, Manila, Tokyo, and London offices, as reported by NZ Herald. The company's impressive portfolio include Visa, Canon, PayPal, Barclays, and Sony as its clients.
Cloud-based video production platform 90 Seconds announced its Series A funding totaling in $8 million, led by Sequoia India. With the new fund, the startup will expand its staff and creative freelancer network, as well as open new offices in new countries, including the United States, Japan, and Singapore.