Cashed-up Brisbane tech firm to launch $12.3m US assault
BRISBANE video creation platform Clipchamp is on the move.
The company, which numbers tech entrepreneur Steve Baxter on its board, has just raised $13.2 million in a funding round that will allow it to expand in key markets such as the US.
Launched five years ago, Clipchamp now has more than eight million registered users worldwide creating content for platforms such as YouTube.
Baxter tells your diarist that he was attracted to the technology behind Clipchamp as well as quality of the people, including chief executive Alex Dreiling. The video content creation market is now a $135 billion industry with 720,000 hours of new content uploaded on YouTube every day.
Clipchamp has announced it has reincorporated in the US but it headquarters will remain in Brisbane.