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Wednesday, May 22, 2024

Finnish startup Videobot secures €2M funding to revolutionize online customer experiences with interactive video chatbots

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Turku-based SaaS startup Videobot has collected €2 million in a seed funding round to transform online customer experiences through interactive video chatbots, with participation from investors including Superhero Capital from Finland, Expon Capital Digital Tech Fund from Luxembourg, and angel investors Urban Gillstrom from Sweden and Ari Korhonen from Finland. The startup employs interactive video chatbots to enhance online customer engagement by seamlessly integrating personalized video content with chatbot technology on websites. The funding will accelerate the startup’s growth, particularly in European and US markets.

The world is turning towards video consumption on all fronts. As Generation Z and younger are fully adapted and in demand of more video content over text, the global digital video content market size reached US$ 171.5 billion in 2022. As the younger generations’ attention span for ads has plummeted to only 1 second, brands and companies are looking for ways to engage their website visitors as well as explain their products in a simpler, more cohesive way.

“80% of internet traffic today is video. Videobot represents a paradigm shift in online communication,” explains Anssi Kiviranta, co-founder of Videobot. “Our platform seamlessly integrates the convenience of chatbots with the engaging power of short videos, opening new horizons for businesses to connect with their audiences.”

Videobot’s fusion of chatbot and video technologies has given rise to a unique solution that represents a whole new service category. With on-demand product demonstrations and effective, simple explanations of complex product information, businesses can achieve measurable enhancement in their customer acquisition. Videobot’s 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 technology can be implemented to any modern website within minutes with a widget or plug-in solution to the existing website, and it works seamlessly on any screen. Videobot also gives recommendations to its clients on the video format and content that is sure to drive engagement and generate more leads and ultimately, sales. While lead generation is the most popular use case, the platform also effectively facilitates any part of the customer journey. Supercell, for example utilizes Videobot on its HR website to boost recruitment efforts, while other clients use the platform to streamline the employee onboarding process.

“The success of Videobot within such a short time is a testament to its transformative potential,” says co-founder Matias Mäenpää. “We believe that the future is fully video-based websites, not just widgets or plug-ins. With internet connections becoming faster and more stable, any brand can build its customer acquisition with video material. Potential clients are fully engaged from the get-go, and they are guided through a personalized video experience based on their choices and needs. We’re thrilled to collaborate with visionary investors who share our commitment to shaping the future of online engagement.”

Since its launch in autumn 2022 at the renowned growth company event Slush, Videobot has made consistent strides in securing significant clients, including game giant Supercell, one of Finland’s largest media company’s event organizations, and Moi Mobiili.

“We had been searching for a solution to create an interactive bot for our website. Videobot was the perfect solution – ever since we launched it, our sales have been growing,” says Ulla Koivula, sales and marketing director at Moi Mobiili.

“The world around consumer behavior and website lead generation is changing rapidly. We saw Videobot’s potential instantly – with an experienced founder team and impressive growth results within the first months of its existence, Videobot was a perfect addition to our portfolio. Videobot is a true trailblazer in this industry, and we wanted to support them in their quickly accelerating growth,” says Juha Ruohonen, General Partner at Superhero Capital.

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.

Click to read more funding news.

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Jan Ameri
Jan Ameri
Entrepreneur-by-heart – and by actions since 1998. Being an expert in spotting new opportunities and creating new concepts, Jan has been a partner or co-founder in seven different companies in various industries. In the early 2000’s he was pioneering some of the very first WAP, SMS, and interactive TV based wireless games and fantasy sports games in the Nordic countries. Jan loves to watch Shark Tank and The Profit in his free time. And he is an FC Barcelona fan.

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