Sequoia backs $20m Series B round for SG-based video startup 90 Seconds

Photo from company's Facebook page

Singapore-based cloud video production firm 90 Seconds on Monday announced that it has raised $20 million in Series B financing backed by new and existing investors.

The latest funding round, which came nearly three years after 90 seconds raised $7.5 million in Series A financing, was backed by SIG, Airtree Ventures, Sequoia India, Qualgro Venture Capital, Atami Capital, and Right Click Capital.

The startup claims to connect brands with more than 12,000 creators — videographers, directors, editors, animators, drone operators, photographers and so on — in over 160 countries and 900 cities. It plans to use the fresh funding to expand and enhance its creator network to provide brands with greater global coverage across major regions and key remote locations.

Launched in 2010, 90 Seconds has worked with more than 1,000 brands including Barclays, PayPal, Visa, Samsung, Sony, and Microsoft to produce video content.

According to a 2018 report by Publicis Media agency Zenith, global online video consumption will grow by an average of 9 minutes per day each year until 2020. The report added that consumers will spend 84 minutes a day watching online video in 2020, up 25 per cent from 67 last year.

The biggest challenge for brands these days is to cut through the noise and get the attention of customers and to engage with them, according to Sequoia Capital (India) Singapore principal Pieter Kemps.

“With video being the most engaging type of content, we have seen huge demand for new ways to produce video at scale,” he said.

But 90 Seconds said creating quality videos at scale for different devices and platforms remains a challenge for brands.

“90 Seconds addresses this gap by connecting brands with a large creator community and ensuring a fully digital production experience. Together, this allows brands to easily deliver great video content that tells a story, engages people, and drives results,” the company said.

90 Seconds founder and CEO Tim Norton said the firm has already created about 30,000 high-quality videos for social media and television, with an average 4.7/5 ratings from brands.

The latest round brings 90 Seconds’ funding raised to date to nearly $40 million. The company first raised $250,000 in its Seed Round in 2013, followed by another $650,000 in 2015. In April 2016, the company raised $10 million in its Series A funding round.

Also Read:

Singapore’s 90 Seconds raises $7.5m Series A led by Sequoia India

China: Happigo to fully acquire online video platform Mango TV for $1.4b

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.