Pictory Corp., an AI-powered video solution firm on Wednesday announced a $2.1 million seed round led by FUSE alongside participation from Voyager Capital.
Bill Bryant, Omri Bahat, Bharat Shyam, among others are the prominent personalities who are participating in the round. This investment, Pictory’s first external financing, will help the company aggressively expand its sales.
The Seed financing follows a recent trend of impressive growth trajectory with the addition of 5000+ new customers reflecting 100x growth in 3 months.
These new customers have been a combination of entrepreneurs who are part of the rapidly growing creator economy where over 2 million people make a full-time living as content creators, as well as marketers at companies across various industries, as per the official statement.
“Pictory’s AI-powered automation is a game changer for content creators and marketers as they can repurpose existing long-form content such as webinars, podcasts, and blogs into several short videos for social media within minutes,” said Vikram Chalana, CEO of Pictory.
“We are very excited to partner with FUSE in our hyper-growth journey. The investment and their network will help us build and expand a global community of video content marketers. The investment will also help us significantly improve our AI algorithms in video production, enhancing the time-to-value for our community.” he added.
“Short form video is becoming an industry norm for many business use-cases, particularly in marketing and social media. With Pictory, the average user has enterprise-ready video editing and publishing tools at their fingertips,” said Kellan Carter, General Partner at FUSE.
“Pictory is led by a world-class team who have successfully built and scaled software companies before. We couldn’t be more thrilled to be part of the Pictory journey,” said Carter.