Chennai-based online video software service provider Hippo Video, which is run by Lyceum Technologies Pvt. Ltd, has raised an undisclosed amount in a pre-Series A round of funding from early-stage investor Kae Capital.
Kae Capital has picked up 25% equity in the funding round which also saw participation from Girish Mathrubootham, founder and chief executive of cloud-based customer engagement platform Freshworks.
“With the funds raised, we are looking for market and product portfolio expansion. The company has a good hold in the US and Indian markets. We are looking to venture into Australia and UK markets,” Karthi Mariappan, co-founder and CEO of Hippo Video, told VCCircle.
“The online video market for small businesses and independent professionals is a rapidly growing space. Hippo Video’s value proposition as an all-in, easy-to-use and affordable solution appears to have resonated with its target audience and we see signs of product-market fit being established,” said Shubhankar Bhattacharya, Venture Partner at Kae Capital.
The development was first reported by The Economic Times.
Hippo Video is a browser-based video tool that allows anyone with access to internet to create professional quality videos instantly and share them. Hippo helps in creating, editing, hosting and tracking videos.
Hippo Video was founded in June 2016 by former Zoho Corporation executives Karthi Mariappan, Nilam Chand Jain and Srinivasan Santhanakrishnan.
Kae Capital, founded in 2010, invests in early-stage companies which bring about innovative solutions for bridging existing gaps in the markets. Last week, Kae Capital-backed B2B e-commerce portal Wotu raised fresh funds from Claris Capital and Mumbai Angels Network.
In November 2017, Kae Capital invested in Mumbai-based fantasy sports platform HalaPlay and in July 2017 it invested an undisclosed amount in Bengaluru-based gaming startup Hypernova Interactive.
In September 2017, it invested in online consumer lending platform CrediFiable, which is operated by Bengaluru-based OneFiable Technologies Pvt. Ltd.
In August 2017, it made a $1.3 million (Rs 8.33 crore) investment Bangalore-based Touchkin eServices Pvt. Ltd, which operates predictive health-tech startup Touchkin.
In July 2017, it invested in Bangalore-based gaming startup Hypernova Interactive.