“We are extremely happy to be backed by South Central Ventures. Joining forces with Jan Kobler and the rest of South Central Ventures brings us one step closer to our goal of making video developing software accessible to everyone” says Videobolt CEO and co-founder, Momčilo Stojković.
The investment allows Videobolt to develop, validate and scale two new solutions primarily for brand managers and marketers but also freelance designers and creative agencies. The company plans to further invest in development of a state-of-the-art solution which will dramatically improve existing enterprise video-making workflows, making the process quicker, more cost effective and transparent. The second solution focuses on providing an API which will allow enterprises to create personalized videos in order to improve customer retention and increase marketing ROI.
“Videobolt brings a fresh and easy to use solution to the market for individuals and businesses dealing with large quantities of video content. Apart from their product and technology, I must say one major appeal of the company was their ability to bootstrap their business, as I’ve witnessed an incredible progress Videobolt’s team has been able to make with very little funding and in a limited timeframe. I feel extremely excited to be able to work with Videobolt on growing and expanding their business internationally” says SCV Managing Partner Jan Kobler.
For South Central Ventures which continues to support tech companies in the Balkans this investment brings a slice of the global digital video ad spend a little closer to home. According to IAB Video Advertising Spend Report for 2019, the industry continues to climb with advertisers reporting that they expect to spend, on average, $18 million this year. More than 75% of all media buyers are claiming that they plan to increase their digital video ad spend in the next 12 months and nearly two-thirds of their digital budgets are allocated to video.
Videobolt was founded in 2016 and has since then grown to around 200.000 registered users, and several thousand paying customers. The company’s software solution was used to create close to 300.000 videos. While offering several categories of promotional videos, Videobolt’s music visualizers are ranked number one in the USA.