VideoVerse Acquired by Minute Media in Major Sportstech Deal
Fund-returning exit leaves Moneta with a substantial fairness place in world know-how and sports activities content material firm Minute Media
Moneta Ventures at this time introduced the acquisition of VideoVerse, an AI-powered video options supplier, by Minute Media, a world chief in know-how and sports activities content material. As the biggest fairness holder in VideoVerse, Moneta notes that the transaction represents a serious milestone for each corporations, strengthening their potential to satisfy the evolving wants of the quickly increasing sports activities content material ecosystem.
Founded in 2016, VideoVerse’s AI-driven SaaS know-how platform Magnifi permits content material house owners and rights holders to robotically detect key moments, create highlights in actual time, and distribute compelling short-form video content material. The platform makes use of laptop imaginative and prescient, pure language processing, and machine studying to interpret visible and audio alerts, determine key moments, and create higher video content material for audiences. Magnifi additionally incorporates generative AI instruments comparable to multilingual subtitles, automated thumbnail and metadata creation, and a versatile rules-based engine that streamlines full end-to-end workflows, offering content material groups with a complete editorial resolution.
“We are delighted to have acquired VideoVerse and are excited concerning the synergies it brings to our mixed enterprise,” says Asaf Peled, the Founder and CEO of Minute Media. “The acquisition permits us to include AI creation capabilities into our platform, whereas giving VideoVerse the distribution and monetization options it wants to higher serve prospects world wide. We additionally sit up for working with Moneta Ventures, VideoVerse’s largest shareholder and a trusted associate, who will likely be rolling over a part of their fairness into Minute Media.”
An early-stage enterprise capital fund that invests in enterprise software program corporations, Moneta Ventures led VideoVerse’s $5 million Seed spherical in 2021, changing into VideoVerse’s first US investor. Moneta subsequently helped incorporate VideoVerse into the United States market, the place its speedy development continued.
“The Moneta workforce has been one in every of our best supporters over time,” says VideoVerse CEO Vinayak Shrivastav. “There have been so many ups and downs alongside the best way and so they have all the time been a relentless, supportive, and reassuring presence. We couldn’t have gotten thus far with out their partnership.”
“Vinayak and his workforce have performed an outstanding job of rising VideoVerse into the nice success that it’s at this time,” says Lokesh Sikaria, Moneta’s Founder and Managing Partner. “This will not be solely a really vital sportstech transaction, but in addition a fund returning exit for Moneta that additional validates our funding thesis whereas rewarding our LPs. We couldn’t be happier with the end result.”
Moneta Ventures invests in Seed and Series A enterprise software program corporations. Their funding thesis facilities on Software++, a set of standards that entails investing in software program corporations with multi-layered monetization methods and a transformational know-how play.
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