PromoMii Enters Seed Round Fundraise
Newly Appointed CFO Mike Miller fires a fundraise.
London, UK, (7 October 2021)
PromoMii, a game-changing media technology start-up disrupting the content management industry with their A.I. platform Nova has begun their Seed round fundraise. Newly-appointed CFO Mike Miller is leading the native SaaS platform in its fourth rounding of funding with targets of $10 million. The platform revolutionizes the video content editing and archiving process by giving users the ability to deep search their content using specific words, characters, emotions, or moments.
PromoMii has raised a significant amount in funding over 4 rounds. Their latest raise was in September 2020 from an Angel round. Previous investors include Jakub Krampl, multiple start-up Co-Founder, CEO of On Air and Director of Unison Family Office, Gideon Reeves, former International Director at Bleacher Reports and current Director at Soteria Ventures, and Joachim Schiødtz, experienced consultant, investor, board member and advisor for media and technology businesses with 20+ years of experience.
The new financing will provide for hiring new Executive team members, further development of the platform, an expansion to broader markets in the USA and Asia, and new features.
CFO Mike Miller says of the Seed round fundraise, “Having used initial funds raised to build the technology and prove its capability and following great feedback from well known broadcasters as well as Saas users, we are now going out to raise funds to establish a strong sales and marketing team to target the millions of potential users for the technology. We also intend to devote significant resources to grow the base of enterprise users, mainly broadcasters, production companies and the large media companies”.
The platform has industry success after officially launching only four months ago, with some of the largest mass media and entertainment conglomerates as clients, such as Disney among others. Nova currently has over 1000 users with a user retention of 80%, including international content producers, studios, and broadcasters, who use the tool to analyse their content and build an indexed and navigable library.
Since its launch as fully SaaS in April 2021, there have been over one million searches made through the platform, and over 1000 hours of footage uploaded, with a user base growing by 60% week on week.
Of the current success of the platform, PromoMii founder Michael Moss says, “PromoMii was founded already back in 2016 and then I pivoted the business in 2018 to what it is today with Nova A.I. when we discovered this huge challenge in the content creation and media industry. Building complex technology and being the first to successfully use it in the way we do is very exciting and I am very pleased with our progress which is backed by some of the largest content producers in the world.”
Nova is the first platform to use computer vision and machine learning in this way to recognize footage and analyse content so that it becomes directly searchable as any search engine. The platform’s algorithms evaluate and visualize large sets of digital content to produce a usable database. The platform can be customized per user by teaching the software names of individuals or rerolling clips generated by the A.I. to teach it what works and what does not.
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