Japan-based video production platform Viibar has secured ¥700m ($5.5m) from corporates including internet company Yahoo’s subsidiary Yahoo Japan and social network Gree’s corporate venturing unit Gree Ventures, according to The Bridge.
Globis Capital Partners, the corporate venturing subsidiary of global corporate management education business Globis, also contributed to the round.
Founded in 2013, Viibar operates a platform counting more than 2,000 video creators. Users can browse creators’ existing portfolio, hire them to produce content, and watch previews of their commission through the platform.
Osamu Aranami, corporate officer and president of Yahoo Japan’s marketing subsidiary, has joined Viibar’s board. The two companies plan to work together on new services and advertising opportunities, with Viibar providing video production resources to Yahoo Japan.
Yahoo Japan made the investment directly rather than through its corporate venturing unit, YJ Capital. Globis and Gree provided $3m in funding for Viibar in February 2014.
Viibar will use the fresh funding to expand its human resources team from 40 to 100, and plans to hire data analysts and adtech engineers, as well as setting up a dedicated team to work with Yahoo Japan. The company is also preparing for an initial public offering in about two years.