Wochit picks up $11 mln

Wochit said Monday that it has raised $11 million in funding. Marker led the round with participation from previous backers Cedar Fund, Greycroft Partners and Redpoint Ventures. Headquartered in New York City, Wochit is a cloud-based video creation platform.

PRESS RELEASE

New York, NY (PRWEB) May 12, 2014
Today Wochit announced $11 million in new funding led by Marker LLC as well as participation by existing investors: Cedar Fund, Greycroft Partners, and Redpoint Ventures. With clients ranging from major newspapers and magazines, across new media and brands, Wochit has proven success in changing the speed and economics around video production for their clients. Wochit will use funds to expand its business to more brands, publishers and multi-channel networks and eventually to anyone who wishes to create short form videos.
“Today brands and traditional publishers are struggling with ways to bring the power of video to their content,” Rick Scanlon, Partner, Marker LLC states. “Offering a truly unique solution in the marketplace, Wochit disrupts the expensive and time-consuming video production industry by providing a video creation platform that enables their clients to tell their own stories in studio quality video within minutes.”
“Wochit automates everything that is possible to automate in the process of pre and post production of video, leaving creativity in the hands of humans. That unique combination allows our customers to rapidly scale and be nimble with video, without compromising editorial quality and engagement,” said Wochit co-founder and CEO Dror Ginzberg.
The company founded by serial entrepreneurs, Ginzberg and CTO Ran Oz, was recently named a finalist in Digiday’s Publishing Awards for Most Disruptive Technology and the winner of the Gutenberg Prize, as a part of the Tribeca Disruptive Innovation Awards, for its disruptive technology in the field of journalism.
About Wochit
Wochit is a revolution in short form video. The cloud based video creation platform enables brands and storytellers to instantly react to any story and economically scale branded, studio-quality video production. Whether it’s breaking news or a personal message to communicate, in just 10 minutes you have a ready-to-publish video for web, social and mobile. Find out more at http://www.wochit.com.

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