Promo.com is an Israeli startup which offers a video creation platform for businesses. Getty Images has led a $16 million Series B funding round in Promo.com, building upon an existing strategic partnership with the company. The round also included debt financing from Mizrahi Tefahot Bank (UMTB-Tech).
Founded in 2012, Promo.com says that it helps businesses easily meet the video demands of the online world where 86 per cent of businesses currently use video as a marketing tool. Promo.com offers access to over 23 million premium video clips and images, ready-made templates, pre-edited licensed music, unlimited clips, unlimited downloads, and an award winning user-friendly online editor. Promo.com, an official Facebook & Instagram Marketing Partner, is a privately held company with offices in Tel Aviv, NYC, and Warsaw.
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The investment will accelerate the next stage of Promo.com’s growth as an end-to-end video content creation platform across ideation, creation, publishing and analytics. Promo.com will use the funds to accelerate its global expansion and launch new content creation and data analysis tools, including mobile.
Tom More, CEO of Promo.com, said, “We launched Promo.com to help businesses grow online, by making great marketing content and tools accessible and affordable. This new phase of our partnership will enable our user community to market themselves in even more creative and ground-breaking ways, utilizing the depth and breadth of Getty Images’ and iStock’s content.
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“We can’t wait to see what our customers do with the added content that is now at their fingertips and new creation tools that will be added to our platform!”
Craig Peters, CEO at Getty Images said, “Video is increasingly important to businesses of all sizes and the Promo.com team are enabling small businesses to easily create powerful videos to drive their growth. Enabling visual communication is a shared goal and we are excited to expand on our relationship.”