Wochit Banks Another $13M

ProSieben, SPH Media Fund among those contributing to new round in social video platform
Author:
Publish date:
Money_10.jpg

Wochit, a startup that curates, licenses and syndicates video news footage for a range of Web video platforms, said it has raised another $13 million in a round that included ProSieben, SPH Media Fund, Carlo de Benedetti and existing investors Redpoint, Marker LLC and Cedar Fund.

Wochit said it will use the funds to expand its business with publishers and content creators worldwide.

Wochit, who’s co-founders include BigBand Networks CTO Ran Oz (Arris acquired BigBand in 2011), raised a $4.75 million A round in 2013. Wochit, headquartered in New York with offices in Tel Aviv  and London, was founded in 2012.

Brands and media companies such as Time Inc., Daily News, USA Today, Gannett, AOL, The Week, ProSieben, Singapore Straits Times, Die Welt and Der Spiegel use Wochit’s platform to produce short-form videos around trending topics.

According to the Wochit, it published 15,348 videos last month and has more than 350 publishers on board.

"The proliferation of content platforms has resulted in an incredible demand for video. With Wochit, ProSiebenSat.1 is able to produce video content at the scale needed to address this growing need, even providing tools to help deliver that content in the right format for each distribution channel, Jens Doka, chief product officer at ProSiebenSat1 Digital, said in a statement. 

Related