Luxembourg’s Expon Capital, known for its strategic investments in groundbreaking tech ventures, has chosen to back Videobot’s journey towards redefining video marketing. Expon Capital’s investment relies on specific criteria:
- Early stage startups with initial customer interest and clear value proposition, validating a viable market. There is no minimum revenue requirement, but at least pilot customers or signed contracts
- Digital companies based in Luxembourg or committed to building substantial activities and hiring locally in Luxembourg
- Founded and incorporated less than 7 years ago
- Their key sectors include Cybersecurity, FinTech and RegTech, Big Data, Digital Health, Digital Learning, Digital Platforms, Internet of Things, and New Space
This funding round was further enriched by the participation of two distinguished venture capital firms. A Finnish venture capital firm, alongside a Luxembourgish counterpart, joined forces to invest in Videobot. Their collaboration signifies the cross-border appeal and potential that Videobot holds within the martech landscape.
It is to note that Videobot also attracted investment from a group of angel investors, including two members from LBAN (Luxembourg Business Angel Network), a prominent network of angel investors supporting early-stage startups.
Videobot in a nutshell
Videobot founders capitalize on the rise in video consumption as brands and companies are increasingly choosing videos to engage their website visitors and promote their products.
“80% of internet traffic today is video. Videobot represents a paradigm shift in online communication” – Anssi Kiviranta, Co-Founder (Videobot)
With on-demand product demonstrations and effective, simple explanations of complex product information, businesses can achieve measurable enhancement in their customer acquisition. Videobot’s team explained that their clients have witnessed a 98% increase in engagement, 150% more time spent on the website, and a 36% increase in overall sales lead volume.
“The success of Videobot within such a short time is a testament to its transformative potential. We believe that the future is fully video-based websites, not just widgets or plug-ins” – Matias Mäenpää, Co-Founder (Videobot)
Videobot has established its Luxembourg office, as part of the Luxembourg City Incubator – within the House of Startups. With a growing roster of Luxembourg-based clients already benefiting from Videobot’s services, the startup is positioned to make contributions to the local business landscape.
At present, Videobot’s Luxembourg office employs three full-time professionals dedicated to driving the company’s growth and supporting its expanding client base. Plans are in motion to further bolster the team, tapping into Luxembourg’s talent pool and fostering local job creation.
Videobot’s organizational structure encompasses two distinct entities: Videobot Finland and Videobot Luxembourg. The latter operates as a subsidiary of the Finnish parent company. This framework underscores Videobot’s commitment to local market dynamics while benefiting from its Finnish origins’ technological prowess.
Looking ahead, Videobot envisions a future where video-driven engagement becomes the norm across industries. The startup’s ambitions include securing one thousand customers and annual billing of three million euros by the end of 2024, with an objective of growing their team to 50 employees.