Australian video creation startup Clipchamp bags $8.8m in Tola Capital-led round

Australia-based video creation platform Clipchamp said it has raised A$13.2 million (US$8.8 million) in a series A round led by Tola Capital, a venture capital firm focused on enterprise software.

Photo credit: Pxhere

Local early-stage investment company Ten13 and existing investors also participated in the startup’s latest raise, which pushed its total equity funding to date to nearly A$16 million (US$10.7 million).

Clipchamp also announced that it has reincorporated in the US. Its headquarters, however, will still remain in Brisbane, according to a statement.

Launched five years ago, Clipchamps offers a suite of video creation software to produce high-quality content. Its video editor Create allows its users to generate content without relying on complicated software or any previous production experience. It also offers tools such as a video compressor, converter, and webcam recorder.

The startup is looking to use the new funds to scale its services and extend its reach into the enterprise segment as well as grow its team in Brisbane and in its US office. It aims to capitalize on the proliferation of video creation within businesses, be it for marketing, human resources, or other departments.

“Partnerships are a strategic way to enable additional growth for our partners and for Clipchamp,” said co-founder and CEO Alex Dreiling. “Our partners are able to deliver enhanced user experiences to their vast user bases because of us, increasing adoption, usage, and retention for both parties.”

Clipchamp said that its Create service has opened up partnership opportunities for the company, such as its recent collaboration with file-hosting service Dropbox. While the startup has successfully developed initial collaborations out of Australia, it plans to accelerate these new partnerships from the US.

Aaron Fleishman, partner at Tola Capital, will also be joining Clipchamp’s board of directors as part of the deal.

Currency converted from Australian dollar to US dollar: US$1 = A$1.49