Skyword acquires custom video company Vidaao, closes US $11 million investment round
What: Skyword acquired custom video production and animation marketplace Vidaao for an undisclosed sum. Following the acquisition Skyword will have rights to the Vidaao platform and freelancer community. In addition, Skyword received a US $11 million investment in growth financing from Cox Media Group. Skyword will also open a new office in NYC.
Why it matters: Content Marketing Services continue being in high demand and Skyword financing intends to meet that demand with more services and resources. The acquisition of video production company Vidaao also highlights online video as a key element in the content marketing services mix.
Skyword has acquired Vidaao, a New York City-based video creation platform with a robust freelance video producer community. As a result, the platform and service provider is adding a NYC office to its Boston, Pittsburgh, and Palo Alto locations. The company has also closed an additional US $11 million in growth financing.
Although Skyword has not disclosed the terms of the acquisition, Skyword will have rights to the Vidaao platform, freelancer community, and has also hired all Vidaao employees. As many other companies, Skyword has been struggling to create video at the scale required in today’s digital age and with the level of quality that will move people to act. According to Skyword CEO Tom Gerace , businesses want to create a volume of high-quality video content on a consistent basis to engage their online audiences. "Unfortunately, the process is messy, expensive, and hard to scale when working with one-off vendors. By bringing Vidaao into the content creation process, Skyword gives businesses access to more than 1,000 videographers who specialize in live action and animation production. We're giving brand marketers direct access to creatives, cutting out the middleman."
Online Video creation can be a messy, expensive, and hard to scale process when working with one-off vendors. Now Skyword will be able to provide access to more than 1,000 videographers.
Vidaao is an online marketplace connecting buyers and sellers of custom video production services. Thanks to its network of video producers, clients only need to write down their briefs — Vidaao will then take care of production, planning, strategy and paperwork. Vidaao will basically help Skyword in solving the video challenge as it allows matching the right creative with a brand’s unique needs and then simplify the production process from beginning to end – all within a single platform.
Skyword has also raised an additional US $11 million in financing , to help fuel the company’s growth, expand its product and service offerings, and build its’ partner ecosystem. This additional investment from Cox Media Group allows Skyword to continue investing in providing available enterprise-level technology, access to authentic voices and professional services.
There are also video producers with extensive experience in the U.S. Hispanic or Latin American marketers within the Vidaao freelance community. These markets , says Gerace, are extremely important to Skyword: "they will continue to be a focus of ours moving forward."