Digital marketing startup Boolv receives almost $10 million investment – Pandaily
Your browser does not support HTML5 audio
On Tuesday, a Chinese media 36Kr reported that Boolv, an AI video-as-a-service (SaaS) generation software provider, closed two consecutive funding rounds for nearly $10 million in three months. Both rounds included investments from Linear Capital, Volcanics Venture, Decent Capital and UpHonest Capital. Proceeds from these rounds will primarily be used for talent expansion and product development.
With the global e-commerce industry heating up since the outbreak of the COVID-19 pandemic, an opportunity to reshape online marketing has arisen. In the past, digital advertising was mainly image-based, presenting information in a limited way and involving gradually increasing traffic costs. As a result, image placement has increasingly become a constraint for brand sellers.
In foreign markets, following the rise of TikTok, the major platforms have all decided to increase their bets in the short video sector. Facing the growing demand for short video marketing, Boolv, which was founded in 2021, focuses on AI and data mining technology, automatically generating short marketing videos. It currently mainly serves apparel brands and DTC brands overseas, and plans to gradually expand into other categories and markets soon.
“The field of short-form video marketing is actually in its infancy globally, and companies are actively building their plans. Canva, with a market capitalization of $40 billion, and Vimeo, with $4 billion, are acquiring very aggressively from AI and video-related companies,” says analyst Wang Qing. Compared to foreign unicorns such as Canva and Vimeo, Wang believes that Chinese teams have more advantages in software technology. short videos, cross-border brand marketing and cross-technology awareness.
Most Boolv core members come from Tencent
SEE ALSO: Tec-Do Completes Round B+ Financing
When it comes to technology, Boolv is by no means tied to one type of algorithm, but continues to explore cross-domain, cross-scene, and cross-modal algorithms and models. For example, it develops and implements dress-up technology, face-changing technology, video dynamization technology, and even helps marketers select virtual models from a library.