US-based video creation platform Wochit secured $13m in funding on Thursday from investors including mass media company ProSiebenSat.1 and SPH Media Fund, the corporate venturing arm of publisher Singapore Press Holdings.
Redpoint Ventures, Marker, Cedar Fund and angel investor Carlo de Benedetti also supplied capital for the round.
Wochit has developed a cloud-based video editing platform that enables media companies and brands to create content that uses assets from sources such as news agencies AP and Reuters, stock photography provider Getty and financial news provider Bloomberg.
The resulting videos can then be distributed across social networks in the relevant horizontal or vertical format. Wochit will use the cash to further develop its technology and to increase its partnerships with publishers and content creators internationally.
Marker previously led an $11m funding round for Wochit in 2014 with participation from existing investors Cedar Fund, Greycroft Partners and Redpoint Ventures, the three investors that provided $4.75m of capital for the company in 2013.
Dror Ginzberg, co-founder and chief executive of Wochit, said: “I am proud that such esteemed media organisations value the impact Wochit is having on the industry to a degree that they are taking a stake in our continued growth.
“We are confident that this investment will give us the ability to continue to drive results for our current partners and broaden our client base into new markets around the world.”