Munich-based StoryBox, a provider of AI-based video creation solutions for businesses, has raised €5.5 million in a Series A funding round.
The round was led by new investor Wille Finance, with participation from existing investors BayBG, High-Tech Gründerfonds (HTGF), CK Ventures and G8 Way Ventures.
“We are thrilled to have attracted a top-tier investor like Wille Finance and convinced them of our vision to revolutionize corporate communications with video,” said Ben Rodrian, CEO and founder of StoryBox.
Katharina Iten of Wille Finance added: “StoryBox seamlessly combines technology and human relationships, revolutionising video creation in HR, communications and social media with KI, empowering employees to easily create engaging videos.”
“Investing in StoryBox is not just an investment in a technology product; it's an investment in a transformational tool that will drive the future of enterprise storytelling and communications, as well as an investment in the incredible team that will bring this vision to life.”
AI is an abbreviation for “Artificial Intelligence.” In German, it is called “Künstliche Intelligenz (KI).”
Transforming the B2B SaaS Video Solutions Market
Companies are faced with the challenge of enhancing their HR and communications strategies while optimizing costs. StoryBox provides a solution that enables companies to rapidly create, manage and analyze high-quality video content.
The company claims to transform enterprise video content creation and management with its AI technology and video-first approach. The platform improves efficiency and accuracy, especially in the areas of HR, employer branding, knowledge management, and social marketing.
StoryBox's end-to-end solutions improve the productivity of content production and management, aiming to transform corporate communications. The company's current customers include companies such as Allianz, Evonik, RWE and Telekom.
Capital Utilization
The funding will help StoryBox strengthen its role as an “innovation leader” in the market, further develop its platform, expand existing business areas and enter new sectors.
“Since our investment in 2020, StoryBox has made great progress and established itself as a leading video production software. With Series A, StoryBox will continue its efficient growth in recent years and in particular further expand its AI capabilities,” said Christian Arndt, Senior Investment Manager at HTGF.
About the Investors
Founded in 2007, Wille Finance is a Swiss family office with over 25 employees. The focus is on private equity, venture capital and direct real estate investments. In venture capital, the focus is on technology investments in Europe.
BayBG Bayerische Beteiligungsgesellschaft mbH (BayBG) is a Munich-based venture capital firm investing in technology startups from Series A onwards. With a portfolio of 40 technology companies and EUR 395 million invested, BayBG is one of the largest venture capital providers in Germany.
We also provide equity and mezzanine capital to mid-market companies to support their innovation, growth and capital structure optimization to address a variety of business needs.
Alexander Ullmann, Investment Manager at BayBG, said: “Video is a growing market and professional video content is increasingly becoming an essential part of corporate communication. StoryBox makes shooting videos particularly easy and its 'no code' video content solution reduces the technical effort to a minimum.”
“As early investors, we have been a part of StoryBox's success over the past few years and are excited to support the company's continued growth.”
High-Tech Gründerfonds (HTGF) is a seed investor in technology start-ups. It has backed over 700 companies and managed around €1.4 billion since 2005. With a focus on sectors such as digital technology, industrial technology and life sciences, it has facilitated around €5 billion in follow-on funding from external investors across more than 2,000 rounds.
Fund investors in the public-private partnership include the German Federal Ministry of Economic Affairs and Climate Action, KfW Capital and 45 companies across various industries.
