Competency in video production and editing is becoming an increasingly important weapon in the modern marketer’s arsenal. But in reality, not everyone has time to fully learn how to use Final Cut Pro X.
Enter Veed, an online video editing tool that aims to help brands and marketers “create videos with a single click.” The app lets users easily edit videos, add subtitles, transcribe audio, and more.
Earlier this week, the London-based startup announced that it raised a US$35 million series A investment from Sequoia. The round is Veed’s first hit of outside funding since its launch in 2018.
The firm will use the money for recruitment and further product developments, such as bolstering its content distribution with live streaming and hosting.
Co-founders Sabba Keynejad and Timur Mamedov are the developers who envisioned an easy video editing tool that could be used by anyone – beginners and professionals alike.
Luciana Lixandru, partner at Sequoia, said, “Sabba, Timur, and their team are building the next great platform in this ever-expanding space. As artists themselves, they have a deep empathy for the creator community, and in turn, creators really love their product. It’s incredible what they have achieved so far, and we’re honored to be by their side for this next part of the journey.”
Veed’s video editor lets users add images, music, text, and filters, remove background noise, and add effects to videos. The ability to transcribe and translate a video’s audio is also a unique selling point.
Users can also find other valuable tools on Veed’s website, such as a GIF editor, video compressor, video converter, teleprompter, and screen recorder.
The company now claims 1 million users and an annual recurring revenue of US$7 million. Veed has pulled in big-fish clients such as Facebook, P&G, Pinterest, Visa, and others.
Source – ContentGrip
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