Media giants participate in AI-powered video solution Wibbitz’s $20 million Series-C round


US-based Wibbitz raised $20 million last week from Germany’s Bertelsmann Digital Media Investments, with participation from The Weather Channel, Associated Press, TF1, and existing investors. The latest funding round brought in reputable investors’ support as video emerges to be a key component in digital content.  An eMarketer report estimates that 62% of Internet users view digital videos and the audience viewership reached two billion in 2017. With Wibbitz’s AI-based platform, publishers are able to improve audience engagement and ad monetization. The patented technology utilizes language algorithms that scan text content for a uniquely developed script, which may be combined with customizable video widgets like images, audio, and soundtrack within just minutes. Wibbitz is expecting a 400% year-on-year revenue growth in 2017 and have on-boarded huge clients like Reuters, Forbes, and Time. The funds will be used to expand into new markets, beef up manpower, and strengthen automated video features.

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