Video Template Platform Biteable Raises $7 Million Series A Financing Led by Cloud Apps Capital Partners
Biteable, an online video builder, announced that it has raised $7 million in venture funding led by Cloud Apps Capital Partners.
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Biteable will use the investment for product development and expanding its global customer base. The company expects to continue scaling its teams across go-to-market, product, engineering, and operations functions. The company has doubled its headcount within the last year, and hiring continues across all functions.
Cloud Apps Capital Partners’ investment provides Biteable with access to the firm’s large network, as well as a team of operators and advisors to help navigate challenges, build world-class teams, and support the company’s continued growth at all stages.
“Video is the most powerful communication medium we have ever seen. The events of 2020 have made that abundantly clear. Yet, video creation is cited as the number one creative bottleneck for most organizations looking to make videos for marketing and internal communications. Biteable helps open up the bottleneck. We could not be more excited to partner with cloud business experts like Matt and his team at Cloud Apps Capital as we expand to help more customers.” Brent Chudoba
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Throughout the recent global pandemic, Biteable has continued to emerge as an industry leader, with acceleration in user growth and video creation of more than 100% in 2020.
“The power of online video has been incredible, and the events of 2020 have accelerated adoption trends that would have otherwise taken five or more years to evolve. As a firm, we look for great businesses in high growth industries with excellent teams that we can help reach the next level. In Biteable, we see all three of those elements and are incredibly excited to partner with Brent and the Biteable team on this next chapter of growth.” Matt Holleran, General Partner.
