StoryBox from Munich, a company offering AI-based video creation for businesses, raised EUR5.5M as part of a Series A funding round.
The round was led Wille Finance along with existing investors BayBG High-Tech Grunderfonds, CK Ventures and G8 Way Ventures.
Ben Rodrian, CEO of StoryBox and founder, says: “We are delighted that we have been able to attract such a prestigious investment as Wille Finance, and to have persuaded them of our vision of revolutionising corporate communications through video.”
Katharina Iten, Wille Finance, adds: “StoryBox seamlessly integrates technology and human relationships. It uses KI to revolutionise the video creation in HR and communications, as well as social media. It enables employees to create compelling videos easily.”
“Investing in StoryBox means investing not only in a technology, but also in a tool that will drive the future of communication and storytelling in the enterprise. It is also an investment in a team that lives out this vision.”
Artificial Intelligence is abbreviated as AI. This is called “Kunstliche Intelligenz”, (KI ).
Message from our partner
Video solutions for B2B market: Transforming the market
The challenge for companies is to improve their HR and communication strategy while reducing costs. StoryBox is a solution for companies that allows them to create, manage and analyse high-quality videos quickly.
The company claims that its AI technology and video-first approach will transform video content management and creation for companies. The platform increases efficiency and accuracy in HR, employer brand, knowledge management, social marketing, and other areas.
StoryBox’s solution is a complete end-to-end system that boosts content management and production productivity. It aims at transforming corporate communication. Its customers include companies like Allianz and RWE.
Capital utilisation
The funds will be used to help StoryBox develop its platform, expand the existing business areas and venture into new ones.
Christian Arndt Senior Investment Manager, HTGF, said, “Since we invested in StoryBox in 2020, it has made great strides and established itself as a leader video creation software.” StoryBox will continue to grow efficiently in recent years, and in particular expand its AI capabilities.
Investors: a brief description
Wille finance, a Swiss Family Office founded in 2007, has over 25 employees. It focuses on direct investment in private equity, real estate, and venture capital. The firm’s venture capital investments are focused on technology in Europe.
BayBG Bayerische Beteiligungsgesellschaft mbH (BayBG) is a Munich-based VC firm investing in technology startups from Series A onward. BayBG, one of Germany’s leading venture capital firms, has a portfolio of over 40 technology companies. It has invested EUR395M in these companies.
They also offer equity and mezzanine funds to support diverse business needs. This includes innovation, growth and capital structure optimization.
Alexander Ullmann is Investment Manager at BayBG. He says that “Video is a growing market and professional video content has become an integral part of corporate communication.” StoryBox makes video shooting easy, and its “no code” video content solution minimises technical effort.
“As early investors, we have followed StoryBox’s development over the past few years and are happy to be able continue the company’s success.”
High Tech Grunderfonds is a seed fund for tech startups. Since 2005, it has invested in over 700 companies with a total of EUR1.4B. It focuses on digital tech, industrial technology, and life sciences and has facilitated EUR5B of follow-on funding from external investors over more than 2,000 round.
Fund investors in this public/private partnership include the German Federal Ministry for Economic Affairs and Climate Action (BMW), KfW Capital and 45 companies from various industries.