Helsinki-based product video management solution Videoly has raised €6 million in a series A funding round to support its growth in Europe and North America. The round was led by Swedish VC Alfvén & Didrikson, alongside previous investors, including Vendep Capital, Reaktor and Kim Väisänen.
Founded in 2014 by Nora Huovila and Sergey Andryukhin, the company is on a mission to enable brands and retailers to automatically connect product videos with online stores to achieve millions of monthly views and boost customer engagement.
Talking about how videos are driving e-commerce now, Nora Huovila, CEO and co-founder, Videoly said: “The consumer shift to digital is here to stay. So online shoppers need to be able to see how a product looks, works and moves, all from the comfort of their own homes. Videos bring products to life in a way that still images and product descriptions alone cannot, replicating the in-store experience online and increasing e-commerce sales.”
The startup’s solution is used by over 400 online retailers and brands globally, including Stadium, Bauhaus and Gigantti, reaching millions of consumers every month.
Going forward, the platform plans to double its team size in Helsinki and Toronto.