Romanian startup Videowise raises USD 3 mln to further develop its eCommerce video platform
Videowise, an eCommerce video platform founded in 2021 by Romanian product designer Claudiu Cioba, said it raised a USD 3 million seed round to develop further its video commerce technology stack for omnichannel video shopping experiences.
The funding round was led by Slack Fund, with participation from FounderCollective, Underline Ventures, MuVentures, Ratio Ventures, and other strategic investors such as Stan Chudnovsky (ex-Meta, PayPal), Javier Olivan (COO Meta), Ed Baker (ex-Uber), Scott Belsky (Behance co-founder, ex- Adobe), and Gokul Rajaram (Google & Meta).
“At Slack Fund, we are committed to supporting companies driving innovation and big ideas. We are thrilled to work with Videowise as the company brings an innovative, commerce-centric video platform to revolutionize how brands and retailers interact with customers,” said Slack Fund Senior Associate Dillon Ferdinandi.
Claudiu Cioba, founder & CEO of Videowise, said: “We are now embarking on a new journey into eCommerce experiences with a new round of investment led by Slack Fund, which will support our expansion to Salesforce Commerce Cloud and other commerce platforms. Together with our investors, we share an ambitious vision for what commerce-centric video solutions will become - creating highly engaging video shopping experiences, distributed at scale, with zero impact on site speed.”
Videowise is an eCommerce video platform that helps brands and retailers create interactive and shoppable video experiences on online stores to increase engagement and uplift conversion. Unlike traditional video platforms, Videowise offers a commerce-centric video infrastructure that protects page speed, saves merchant time with automation, and offers more insights with advanced video analytics.
Today, more than 100 design and development agencies worldwide are building next-generation video experiences for their eCommerce clients using Videowise’s highly customizable video components.
The startup said that its first success was with shoppable videos in 2022, generating more than USD 1 million in added revenue from purchases happening straight in Videowise’s shoppable video player but also influencing more than USD 25 million in revenue at conversion rates increase of up to 328% from video shoppers spending up to 4 minutes more per page, watching interactive short form videos.
(Photo source: Videowise)