Biteable, the online video creation platform that simplifies the production of professional-quality videos through the use of templates and a comprehensive media library, has secured $7 million in Series A funding. This investment round was spearheaded by Cloud Apps Capital Partners.

The platform currently provides competition to established services like Vimeo, Canva, and Adobe, but distinguishes itself by concentrating on the creation of video content designed for sustained use, rather than fleeting social media posts.

The company attributes increased demand for its services to the recent surge in video communication, particularly among small businesses, which has been significantly influenced by the global pandemic. According to Biteable, this trend has contributed to its growth.

“The pandemic undeniably expedited the existing shift towards video,” explains Brent Chudoba, Biteable’s CEO, who assumed the role at the close of the previous year. “It positively impacted platforms like Zoom and Loom, and we experienced benefits as well. I anticipate an even greater impact moving forward, as organizations become accustomed to remote collaboration and require innovative methods for information dissemination,” he states.

The company was initially established in 2015 in Hobart, Australia, through the collaborative efforts of CTO Tommy Fotak, Simon Westlake, and James MacGregor. Fotak possesses a background in software engineering, while Westlake brings expertise in animation and studio production. MacGregor, with experience in software, product development, and marketing – including a previous position at BigCommerce – serves as Biteable’s chief product officer.

The founding team initially focused on freelance projects involving advertising and explainer videos, which revealed a market need for a streamlined video creation tool. Their vision was to simplify the video production process, mirroring the ease of website creation offered by platforms like Squarespace and Wix.

Chudoba joined the company to provide leadership with a proven track record in scaling freemium software businesses. Prior to Biteable, he held positions in private equity, as an early employee at SurveyMonkey (as CRO), and at PicMonkey (COO), Thrive Global (COO and CFO), and Calendly (head of business operations).

Despite acknowledging the competitive landscape, Chudoba views it favorably, recognizing the market opportunity and Biteable’s potential for differentiation.

Biteable’s customers consistently highlight the platform’s ability to deliver high-quality results with a reasonable investment of time and skill.

“Users are able to achieve outcomes they are genuinely pleased with, often surpassing their expectations given their level of training, expertise, and design background,” Chudoba explains.

Above: An explainer video created using Biteable.

Customers also value the extensive content library, which incorporates stock photography, stock video footage, and a wide array of animations and scenes. Biteable sources content from Unsplash and Storyblocks, while its animation library and templates are developed internally by a dedicated team of professional designers, enabling the release of hundreds of new scenes each month to maintain a current and diverse library.

Biteable differentiates itself from competitors by focusing on enduring video assets, such as business explainers, marketing materials, and product page videos, rather than short-lived social media content like Instagram Stories. Videos created on the platform typically range from 30 seconds to three and a half minutes in length.

The platform has already been utilized by individuals from prominent companies including Amazon, Microsoft, Google, Disney, Salesforce, BBC, Shopify, and Samsung, although no formal agreements are currently in place with these organizations.

Above: A Biteable recruiting video template.

Biteable operates on a freemium model with various subscription tiers to generate revenue.

The free plan provides individual users with access to the complete suite of video creation tools, including the library of 1.8 million images, clips, and animations. However, videos created with the free plan are branded with a Biteable watermark. A $19 per month subscription removes the watermark, allows for custom branding, offers HD 1080p resolution, and grants commercial usage rights. Professional users pay $49 per month for shared editing, project collaboration, and unlimited team member access, with custom pricing plans also available.

Currently, Biteable’s combined free and paid user base exceeds six million, generating approximately 100,000 unique videos each month – a figure that doubled throughout 2020.

The additional capital will be allocated to expanding the team and further developing the platform’s capabilities.

The company also notes a broader acceptance of remote work, a trend accelerated by the pandemic. Biteable has always operated as a remote-first organization, with its team of 46 distributed across Australia, the U.S., Canada, and Western Europe. This established remote work structure simplifies talent acquisition.

Chudoba envisions Biteable’s potential for substantial growth.

“Video represents a fundamental platform, and I believe we can build a significant, independent company,” Chudoba asserts. “Our freemium model provides a low customer acquisition cost, and the service delivers high value, fostering strong customer loyalty, particularly when teams are involved,” he adds.

“The impact of online video has been remarkable, and the events of 2020 have accelerated adoption rates that would have otherwise taken years to materialize,” states Matt Holleran, general partner at Cloud Apps Capital Partners, in a statement regarding his firm’s investment. “We seek out exceptional businesses in rapidly expanding industries with strong teams, and Biteable embodies all these qualities. We are thrilled to partner with Brent and the Biteable team as they embark on this next phase of growth,” he concludes.