With a $5.4m funding boost from Japanese investors, video summary platform Simpleshow is ramping up its expansion plans. The company provides customers with short animated or hand-crafted videos to explain topics or companies, with customers including BMW, eBay, Microsoft, Deutsche Bank and IKEA, along with NGOs such as the German Red Cross.
Simpleshow – valued at $75m, according to the company – aims to become a global edtech company and will use the new funding to accelerate its internationalisation. The US and Japan are first on the list for the company, which previously focused on the European market. It will also use the extra capital to enhance its product portfolio by providing more interactive educational features.
It’s not the only startup offering animated and video summaries for clients – Funk.e, which launched in the Netherlands but recently opened an office in Berlin, provides an even more compact service via its 75 second explainer videos.
Founded in 2008, Simpleshow has offices in Berlin, Luxembourg, Stuttgart, London, New York, Singapore and Hong Kong. To date, the company has produced several thousand videos in more than 50 languages – in its classic model, it creates three-minute summaries to explain a range of subjects and companies.