Phyron, a Stockholm-based startup specializing in AI-driven video content creation, has recently secured a significant seven-figure investment from Round2 Capital. The infusion of funds will bolster Phyron’s ability to grow its customer base while also accelerating the advancement of its AI and automation technology. The investment will also serve as a catalyst for Phyron’s growth trajectory, supporting the launch of new products and the expansion of its dedicated team. Known for their revenue-based finance approach, Round2 Capital has expressed its intent to provide further funding as Phyron continues to scale up its operations.
Phyron’s software harnesses the power of artificial intelligence to automatically generate engaging product videos, offering businesses a faster sales process and reduced content creation costs. By leveraging its innovative video engine, Phyron can swiftly produce high-quality videos in real-time using existing content. The software seamlessly integrates across various platforms, including websites, marketplaces, social media, and paid advertisements.
Phyron’s AI-based video engine can create an unlimited number of studio quality videos from existing content in real-time. The easily implemented software renders, hosts, and streams all video files with no human input on all available channels – including websites, marketplaces, social media, and paid ads.
Since its foundation, Phyron has rapidly expanded beyond the Nordic countries and into the rest of Europe and North America. Now, more than 2,500 car dealers use Phyron across 25 countries. Since January 2021, Phyron’s videos have been viewed more than 250 million times. Ads using videos created with Phyron can receive on average over 50% more visits and cars are sold three to five days faster. All for less than the price of a cup of coffee per car.
Jan Hillered, Co-Founder & Managing Partner at Round2 Capital, commented on the investment: “Phyron’s development over the past years has been impressive and we believe that revenue- based financing is perfectly suited to deliver the funding they need to realize their ambitious expansion plans. We are excited to partner with the passionate and motivated team at Phyron as well as with the existing investors. Given sector dynamics and Phyron’s current development trajectory, we expect to see more opportunities to contribute towards Phyron’s financing needs as they continue to scale up.”
Johan Sundstrand, Co-Founder & CEO of Phyron, also expressed his enthusiasm: “Phyron is generating triple digit growth in 2023 and this new investment means we can keep on growing and launch new products faster, like our recently launched Paid Ads ‘always on’ platform, which allows dealers and OEMs to reach new audiences with full AI video automation. The new funding means that we can invest more in our AI technology and grow our team in core areas – all with a view of adding hundreds of new customers. We can also look forward to Round2’s backing in the future thanks to the revenue-based funding model we have with them.”
