Biteable announce $1.1M investment

2015.11.26 • Hobart video startup, Biteable, announced today $1.1M investment from a group of Australian investors including Sydney-based Tank Stream Ventures and BridgeLane Capital.

Biteable has developed the world’s simplest video maker, a tool that allows anyone to create professional videos completely online in minutes at Biteable.com.

It's been an amazing experience to have James and Simon from Biteable in Parliament. We couldn't be happier for them!

Customers clearly love Biteable’s product: over 90,000 have used the platform to create more than 100,000 videos.

Strong interest in the video-making technology has come from freelancers, SMEs and large enterprises, triggering double-digit month-on-month growth for this Tasmanian startup.

James MacGregor, co-founder and CEO said, “We knew there was strong demand for a simpler way to make promotional videos, but we’ve been truly blown away by the response from small businesses through to Fortune 500 companies.”

Timing has been important to Biteable’s strong growth. The last year has seen a notable increase in the availability of technology that enables consumers to watch videos through devices such as smart phones, and via social media platforms such as Facebook.

“Businesses large and small want to take advantage of the power of video to showcase their own products and services, but without incurring the high costs traditionally charged by digital agencies,” said MacGregor. “Biteable is riding that wave.”

Biteable addresses this demand by supplying a product that is simple to use and produces much higher quality videos than the DIY options previously available.

"Biteable has democratised access to video creation for consumers. The team has built an awesome product, proving that you can build a global business from anywhere in Australia,” said Rui Rodrigues from Tank Stream Ventures.

Headquartered in Hobart Tasmania, the company is focused on sustaining its rapid growth. The funds will be used to expand the Biteable team, further develop the product and broaden the video content available to users.

Co-founder and CTO Tommy Fotak said, “In the year ahead, we will be continuing to improve our product offering while scaling up to support the staggering growth we’re experiencing. Our mission is to enable anybody to create fantastic videos.”