NEW DELHI, Sept 9: Hippo Video, a video customer experience (CX) platform, on Wednesday said it has raised USD 4.5 million (about Rs 33 crore) in funding led by Alpha Wave Incubation and Exfinity Venture Partners.
Existing investors Sequoia Capital India’s Surge, and KAE Capital also participated in the series A round, a statement said.
This latest round of funds will be used to propel the company to expand its GTM (go to market) teams as well as ramp up the engineering team, it added.
“With the increasing role of video in communication and social media, Hippo Video looks to capitalise on video as a key decision influencer and trust driver. Hippo Video drives sales, marketing, and overall customer experience through our REAL platform,” Hippo Video founder and CEO Karthi Mariappan said.
Through personalised videos created by Hippo Video, sales teams can achieve productivity increase of up to 3x, he added.
The company has more than 1,000 business customers globally, including Panasonic, Freshworks, Chargebee, Tailwinds Transportation, Essilor and Clarify Med.
As part of this investment from Alpha Wave, Hippo Video will expand its presence to Abu Dhabi and use the Emirate as a strong global base for international expansion while also targeting the GCC (Gulf Cooperation Council), MENA (Middle East and North Africa) and other global markets, the statement said.
Hippo Video will also build a world-class team of data scientists, product managers, and engineers located in Abu Dhabi, it added.
Post COVID-19, there is a massive uptick in video as a default mode of communication, and all parties engaging on video have got acclimatised to it, Shailesh Ghorpade, Managing Partner and CIO at Exfinity Venture Partners, said.
“We believe that Hippo Video, with its technology of making personalised videos at scale and importantly, at a cost that is not different from mail and other notifications, has immense potential to make sales and support processes effective, leading to superior conversion and engagement for its clients,” he added.
Ghorpade said this is imperative in the post-COVID-19 world, where return on investment on marketing is a key metric for enterprises.
Going forward, other use cases like internal / external communication by enterprises will propel further growth, he added. (PTI)
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