Wibbitz raises $8M in Series B

What does Wibbitz do?

Wibbitz, is a text to video technology which automatically turns any text based article, feed or post into a video. These days videos generate the highest  CPM on the web. With the increasing popularity of online videos and the introduction of many new devices for consuming content, brands have to keep up with the demand of the users. This platform ensures that every article or page has a corresponding video by automatically generating watchable clip out of the text.

This text to video startup is changing how publishers think about videos.

How much Wibbitz was funded?

Wibbitz raised $8M in Series B funding on May 21^st, 2015 from Nantmobile, which was founded by a billionaire physician and entrepreneur Patrick SoonShiong. Other investors include Initial Cpaital, Horizon Ventures, Kima Ventures.

Previous funding

$500k in Seed round on July 1, 2011 from Initial:Capital, Kima Ventures and lool ventures

$2.3M in Series A funding on June 5, 2012 from Horizons Ventures and lool ventures

What is next for Wibbitz?

Wibbitz is focused on bringing the video creation technology to the U.S. publishers for building efficient and scalable video into their content strategies. The latest investment will be used for building the company’s U.S. headquarters in New York City’s Financial District, which is a growing hub for tech and media companies. It will specifically focus on the expansion of business development, marketing, sales, editorial teams etc and has plans to hire 20 more employees in the coming few months.

More about Wibbitz

Wibbitz was founded on October 1^st, 2011 by Yotam Cohen and Zohar Dayan. It has its headquarters in New York, NY. It provides publishers with a scalable text to video platform for quickly increasing the video inventory and monetize their content with pre roll ad space. This platform has a huge potential for meeting the increasing demand from publishers for a comprehensive video solution.