US-based video creation platform VidMob has closed a $7.5m series A round featuring content production company Stampede Ventures.
Growth equity firm Manifest Investment Partners, venture capital firm Interlock Partners, investment partnership Acadia Woods Partners, family office Macanta Investments and undisclosed existing investors also took part in the round.
VidMob has developed an online video creation marketplace that connects creatives around the world with brands and advertisers to collaborate on the creation of video assets for digital channels.
The round’s proceeds will be used to increase the capacity of the company’s technology and to expand its team across offices in Los Angeles, New York, Chicago and the state of Massachusetts. It took VidMob’s total funding to $13m.
VidMob previously secured $2m in a 2015 seed round that included advertising agency Mother New York’s corporate venturing arm, Mother Ventures, as well as Foundation Capital, Acadia Woods Partners and assorted media executives.
Alex Collmer, VidMob’s founder and CEO,said: “As the web continues its transition from a static medium to one dominated by video, many advertisers are struggling with the difficulty of scaling video creative without sacrificing quality or overspending.
“VidMob serves as a virtual post production house for agencies, social networks, marketers, digital publishers, and e-commerce platforms that need increasing amounts of video as the global communications mix migrates from text and still imagery to video.”