We are thrilled to share the news that Wochit is receiving $13 million in funding from media giants ProSiebenSat.1, Singapore Press Holdings’ SPH Media Fund, Carlo de Benedetti as well as several existing investors including Redpoint, Marker LLC and Cedar Fund. With this funding, we’ll be able to further enhance Wochit’s tools that empower storytellers and creators all around the world every day.
Jens Doka, Chief Product Officer, ProSiebenSat.1 Media, noted, “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 need to address this growing need, even providing tools to help deliver that content in the right format for each distribution channel.”
“I believe that a bright future for publishers and media companies is possible,” said investor and publisher Carlo de Benedetti, “We need to adapt our offerings to meet the wants and needs of audiences. Wochit is an invaluable company emphasizing video-based storytelling and giving publishers a powerful tool to turn an historically resource-intensive proposition into user-friendly, cost-effective one.”
The investment from new funders as well as existing customers, each representing dozens of brands, is a testament to the strategic value of the Wochit platform. We stand ready to enhance our technology, further empowering storytellers with intelligently-applied automation, the largest library of pre-licensed assets, sand cost-effective video solutions.
Our co-founder and CEO, Dror Ginzberg, put it best, “I’m proud that such esteemed media organizations value the impact Wochit is having on the industry to a degree that they are taking a stake in our continued growth. We’re confident that this investment will give us the ability to continue to drive results for our current partners and broaden our client base into new markets around the world.”