DETROIT, Del. Claudiu Cioba, a product designer, launched Videowise in 2021 as an eCommerce video platform. With the latest USD 3 million seed round investment led by Slack Fund and including participation from FounderCollective, Underline Ventures, MuVentures, and Ratio Ventures, Videowise is making progress.
“At Slack Fund, we are dedicated to helping businesses advance innovation and bold concepts. According to Slack Fund Senior Associate Dillon Ferdinandi, “We are excited to engage with Videowise as the firm delivers a unique, commerce-focused video platform to redefine how brands and retailers communicate with customers.
In 2022, shoppable videos were Videowise’s first big success, bringing in more than USD 1M in extra revenue from purchases made directly in the shoppable video player while also influencing more than USD 25M in revenue at conversion rates as high as 328% thanks to video viewers who spent up to 4 minutes longer per page watching interactive short form videos.
Dr. Squatch has noticed a 3.2% increase in revenue per session in the first 30 days since switching to Videowise. Regarding page speed performance for online retailers, Videowise loads up to 5 times quicker than standard video platforms.
“The most substantial endorsements of our credibility come from customer evaluations and comments. With a fresh round of funding led by Slack Fund, which will enable our growth to Salesforce Commerce Cloud and other commerce platforms, we are starting a new adventure into eCommerce experiences. We share an ambitious vision with our investors for what commerce-centric video solutions will develop into highly engaging video shopping experiences that are scaled up and have no adverse effects on website speed. Claudiu Cioba is the CEO and founder of Videowise.
One video can only be placed on a website using traditional video platforms. To assist online stores in managing and publishing video at scale on an almost infinite number of product pages, collection pages, or blogs, Videowise was created from the ground up with eCommerce in mind. For the clients, it has saved a tonne of time.
Since its debut, Videowise’s technology has developed into a complete eCommerce Video Platform that supports direct-to-consumer brands and online retailers’ whole video infrastructure.
Using Videowise’s highly configurable video components, more than 100 design and development firms worldwide are creating next-generation video experiences for their eCommerce clients.
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