Capsule, a startup that works on AI-driven video editing, raised a $4.75M Seed round.
90% of its customers are in the enterprise category, including Snowflake, Salesforce, and the Wall Street Journal.
- "Despite the large number of video tools in the market, the needs of enterprise teams have largely been ignored. Ask anyone in marketing, comms, sales, or success, and they'll tell you video outperforms all other formats, but they'll also tell you they don't get to use it often enough because of how costly and complex it is to make," said the startup's CEO Champ Bennett.
- Capsule's team first built a GIF capture tool and social network Phhhoto, which shut down in 2017 amid competition from Instagram's Boomerang. They also built an experiential marketing business for live events, Hypno, which was impacted by the COVID-19 pandemic.
- Capsule previously raised $2M in Pre-Seed funding with participation from Bloomberg Beta and Array Ventures, among others.
