Videate, video production automation software, recently announced a $2.8 million seed investment to accelerate its growth and cutting-edge technology roadmap.
S3 Ventures led the round with participation from Tensility Venture Partners and existing investors. As part of the financing, Eric Engineer, Partner at S3 Ventures, will join Videate’s board of directors.
“Eric’s experience as both investor and executive in the enterprise video space adds the strategic capability to our board that we believe will be invaluable to our future growth,” said Dave Gullo, Videate CEO, and co-founder. “We are excited to have Eric and the S3 Ventures team on board and appreciate the support of both our new and existing investors.”
The funding is said to come as a rapidly expanding set of software companies including VMware, Cisco, Nutanix, Acumatica, Blue Yonder, and Elastic adopt Videate’s groundbreaking automation technology to produce and maintain videos at unprecedented speed and cost.
“Whether it’s marketing, customer success, or employee training, video content is table stakes for software companies seeking to efficiently acquire and retain customers. Videate is helping overtaxed production teams keep up with this ever-increasing demand by automating video production at a scale that was thought impossible,” said Engineer. “Videate’s technology is truly special, and we are very excited to partner with this amazing team, as they completely transform how video is produced.”
Videate also announced the addition of Wayne Boulais of Tensility as an advisor, joining Debajyoti (Deb) Ray, a prominent AI expert and investor, and Stefano Malnati, operating executive consultant with Symphony Technology Group.
