VideoGenie Scores $2M From Eric Schmidt, Others For Video Testimonials Platform

Next Story

Shell Spinoff Avantium Raises $43.9 Million To Develop Green Plastics, Chemicals And Fuel

Back in May 2010, VideoGenie launched at our Disrupt conference as a platform for consumers to connect with their favorite brands through user-generated testimonial videos. A couple of months later, VideoGenie reported back to us with an excellent progress status update.

Today, the startup is announcing that it has raised a $2 million Series A round of venture financing led by Blumberg Capital, with previous investors, including Google Chairman Eric Schmidt’s Innovation Endeavors, also participating in the fresh round.

The company informs us that they intend to use the proceeds of the financing round to expand the VideoGenie solution set, as well as grow the team.

VideoGenie basically enables brands and organizations to engage and capture the passions of their fans through customer-generated videos via a platform that requires no training or special experience to implement.

Brands can use the platform to gather, manage, publish and analyze videos recorded by their fans, incorporating the authentic video content they collect into a broad range of marketing and customer engagement initiatives.

Below, you can find a screenshot of an implementation by Shoedazzle.

VideoGenie has been selected by some of the world’s biggest brands and organizations, including Levi’s, Intuit, Sony Music and the U.S. Department of State, to power video-based testimonials, reviews and corporate communications.

The business broke even within 8 months after its launch at Disrupt, the company says, without spending a dime on marketing and without a dedicated sales team in place. The startup says it has since relied on operating income to fuel product development and new customer acquisition.