By Nancy Dahlberg
Short-form video is the highest performing format for businesses to tell their stories and according to Hubspot more than 90% of marketers are planning to increase or maintain their investment in video creation in 2023. That’s why Miami-based Capsule’s AI-assisted platform helps enterprise content teams create on-brand video at scale.
Capsule just announced that it has raised $4.75 million in seed funding. The round brings Capsule’s total funding to $6.75 million, after its pre-seed raise in 2021.
Investing in this round are Human Ventures, Swift Ventures, Clark Valberg’s Tiferes Ventures (Founder of InVision), Behind Genius Ventures, Array Ventures, Bloomberg Beta and Miami’s Flamingo Capital. Other Miami investors include Bobby Goodlatte (Form Capital), Auston Bunsen (QuickNode), Mark Kahn and Chaim Lever (Bria Fund) and angels Ari Greenberg and Amelia Can.
Capsule was founded in 2020 by Champ Bennett and Joseph Jorgensen. Built with CapsuleScript, a first-of-its-kind markup language for video that automates video post-production and makes desktop-quality video possible from any device with a browser, Capsule makes it easy to crowdsource, edit and distribute video, Bennett says.
The round comes on the heels of Capsule’s recent beta launch of the company’s generative AI-powered video editor. “It’s generating revenue and we have amazing customers like Salesforce, Snowflake, University of Nebraska, Wall Street Journal and Twilio,” said Bennett, in an interview with Refresh Miami. “We will use the funding to commercialize the product from there.”
In a crowded video market, the focus on enterprise companies is key, Bennett said, adding that 90% of its revenue comes from enterprise customers now. “You have a lot of needs around consistency and branding and the ability to share files and assets across team members and collaborate on content. They need a place to store all their files, all of this is really important when you’re creating video with a large team as opposed to just doing it on your own on your phone,” Bennett said. “That’s why all of our enterprise customers are excited about the tool because it’s made for them for the first time.”
One of them is Mark Maldonado with the AFL-CIO. “Capsule has absolutely transformed our work, making it easy to get video and share it on our website and social media. Without Capsule we couldn’t make that happen.”
Bennett and his wife moved to Miami from New York in September 2020 and are here to stay – they’ve purchased a home in Miami Shores. “I love Miami. My only gripe is I wish I had more people on the team here,” Bennett said. Maybe Miami can change that.
Capsule is seeking to hire its first product designer as well as a machine-learning engineer, a front-end developer and a Head of Video & Marketing to join its 12-person team. Though the team is distributed now, Bennett said he hopes to find those roles in Miami.
He says he’d like to open an in-person office here but hiring has been difficult. “That’s one of the one of the challenges — there’s a great VC and founder community in Miami that I feel lucky enough to be part of, but it hasn’t been easy to find great engineering talent.”
Watch a Capsule demo here:
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