Telecommunications conglomerate Deutsche Telekom’s corporate venturing unit, T-Venture, and IBB Beteiligungsgesellschaft, the venture capital division of Investitionsbank Berlin, backed a funding round for video marketing company Clipkit, which raised a ‘mid-seven digit Euro’ sum on Thursday.
Clipkit syndicates online video content, which it then distributes and markets through other websites on its own video player, which can be modified according to each site’s look and style.
The financing will be used to increase Clipkit’s staffing numbers as it aims to extend its media partners both in Germany and internationally.
Frank Bachér, managing director of Deutsche Telekom’s InteractiveMedia CCSP division, said: "Video advertising is one of the biggest growth factors within the digital industry. As one of the most dynamic German companies in this sector, clip-kit is a strong partner and we are more than happy to promote their growth."