Invodo Raises $6 million in Series B Funding from Sevin Rosen and S3 Ventures. The Company connects manufacturers and retailers through the largest product video library in the world. Invodo’s product videos have been proven to boost conversion rates and sales for manufacturers and retailers. Invodo also leverages product videos on its microsites that funnel highly qualified consumers from popular search engines to online retailers.
“This recent round of funding enables us to further expand our video library content , secure our leadership position in video syndication to online retailers and manufacturers, and deliver valuable new features like embedded video players,” states Craig Wax, Invodo CEO. “In light of the recent business climate, we’re very proud to have continually built additional value in our company … it’s a testament to our employees, customers and stakeholders.”
The company has expanded its video content library to over 20,000 product videos from more than 1,900 manufacturers and now syndicates product videos to over 850 ecommerce sites.
The Series B funding use of funds aims expand market presence, enhance the delivery platform and to accelerate sales and marketing activities.
“It’s been very promising for Invodo to establish itself as an early leader in this tough market. The additional funding comes with considerable confidence that the company will continue to scale its customer base and expand its value proposition within the online economy,” states Kimzey, Partner with Sevin Rosen.