Hippo Video Raises $4.5 Mn In Series A Round The fund will be utilized to expand its GTM teams as well as ramp up the engineering team
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Video customer experience platform Hippo on Wednesday announced it has raised $4.5 million in Series A round. The investment round was led by Alpha Wave Incubation (AWI), managed by Falcon Edge Capital, and backed by ADQ and Exfinity Venture Partners. Existing investors such as Sequoia Capital India's Surge and KAE Capital also participated in the round.
The fresh fund will be utilized to propel the company to expand its GTM teams as well as ramp up the engineering team.
The platform will also have to expand its presence to Abu Dhabi as part of the investment received by AWI. The platform will have to use Emirate as a global base for international expansion while targeting other markets including Gulf Cooperation Council (GCC), Middle East and North Africa (MENA), among others. The platform will also build a team of data scientists, product managers, and engineers located in Abu Dhabi.
The cloud-based video CX platform by Lyceum Technologies provides solutions across creation, delivery, and measurement of metrics for personalized videos. Founded by ex-Zoho team, the platform provides technological innovations such as online-pro editing, video landing pages, smart webcam, among others. The platform has witnessed more than 400 per cent year-on-year revenue growth, 100 per cent net dollar retention and a 400 per cent rise in TV/CAC already.
Commenting on the platform, Karthi Mariappan, chief executive officer and founder of Hippo Video, said, "With the increasing role of video in communication and social media, Hippo Video looks to capitalize on video as a key decision influencer and trust driver. Hippo Video drives sales, marketing, and overall customer experience through our REALTM platform. Through personalized videos created by Hippo Video, sales teams can achieve productivity increases of up to 3x."
Speaking on the investment, Navroz D. Udwadia, co-founder and partner at Falcon Edge Capital, said "We are excited to back Karthi and an outstanding team at Hippo Video, who bring decades of experience in building / scaling SaaS products globally via their domain expertise at Zoho. Hippo Video has and continues to demonstrate outstanding strong organic traction, customer retention, and like-for-like ACV growth. Most critically, customer feedback on the Hippo Video suite of products is tremendous."
"Post Covid, there is a massive uptick in video as a default mode of communication, and all parties engaging on video have got acclimatized to it. We believe that Hippo Video, with its technology of making personalized videos at scale and importantly, at a cost that is not different from mail and other notifications, has immense potential to make sales and support processes effective, leading to superior conversion and engagement for its clients. This is imperative in the post Covid world, where ROI on marketing is a key metric for enterprises. Going forward, other use cases like internal / external communication by enterprises will propel further growth." said Shailesh Ghorpade, managing partner and chief information officer at Exfinity Venture Partners.
KAE Capital's Gaurav Chaturvedi, said, "It's been a privilege to watch the Hippo Video team scale and ascend new heights. Their journey and commitment to excellence in the video technology landscape has given us the confidence to back them consistently."