Videoly raises €1M equity funding from Vendep Capital to enter the US market
Videoly raised €1M equity funding and is opening their US market. The funding round was led by Vendep Capital, an early-stage venture capital firm focused on SaaS companies.
Videoly is a unique product video platform for online stores and brands. Videoly searches YouTube for the best product videos and automatically connects them to the relevant product pages in online stores. Videoly’s service is already trusted by nearly 300 online stores in the Nordics.
”Consumer behaviour is changing. More and more people prefer to shop online, and the COVID‑19 pandemic has accelerated this change. During the past spring, we saw a 52% increase in video views in our customers’ stores compared to the previous year. Since access to brick-and-mortar stores is limited, consumers move online and watch videos to get a feel for the product they are buying”, tells Nora Huovila, the CEO of Videoly.
”Videos enrich product information in an engaging way and increase conversions in online stores. After brands began to notice our solution on online stores’ product pages they contacted us to ask how they could ensure the visibility of their own videos. That’s how Videoly for Brands was born”, Huovila continues. Videoly enables brands to easily distribute their product videos straight to online stores.
Videoly aims to become the go-to-place for all product videos globally.
For more information:
Nora Huovila, CEO
Jupe Arala, General Partner
+358 40 564 9730
Videoly is the Nordic market leader in video technology for online stores. Videoly has 27 employees and is headquartered in Helsinki, Finland. To learn more visit www.videoly.co
Vendep Capital Oy is an early-stage venture capital firm investing in fast-growing SaaS companies with a significant part of the revenue coming from international markets. Vendep Capital has 40 million euros under management. The funds were raised from Finnish private and institutional investors such as Tesi (Finnish Industry Investment) and The Finnish Innovation Fund Sitra. www.vendep.com