Clipchamp says the fresh injection of capital adds to the $1.65 million of initial funding previously raised from Queensland University of Technology’s innovation, venture and investment arm, Bluebox, and Australian and German angel investors, which enabled the development of earlier products as well as the evolution of the Create platform.
And Clipchamp says it will also use the funds to make key hires for its Brisbane-based headquarters and to continue to expand internationally.
Clipchamp claims 6.5 million registered users worldwide, including team members from companies such as Google, Tesla, Sony, Microsoft and Deloitte, and says it has grown its Create revenue by 20% month-on-month over the last year.
Co-founder and chief executive of Clipchamp, Alex Dreiling, said: “It’s no secret we’ve been chipping away at Steve for some time, so we are thrilled to have him on board now that we’ve surpassed the key performance indicators he previously set for us. As our user base grows and Clipchamp’s sphere of influence continues to know no bounds, we are excited to have someone like Steve in our corner, helping to bring our vision to life.
“Creating video does not have to be an intimidating or overwhelming experience, which is extremely important to be aware of as the format becomes increasingly valuable and relevant for businesses, big and small, across numerous areas, including marketing, learning and development, internal communications as well as customer communications and support.
“Clipchamp is empowering anyone and everyone to create something they didn't believe they could do themselves.”
Steve Baxter said, “I’ve kept my eye on the Clipchamp team over the years because I’ve always respected the founders and founding story and am impressed by the way the company has pivoted to arrive at an exceptionally strong, core tech product.
“Clipchamp’s user and revenue growth across the last 12 months has proved too enticing to ignore. I am not being overly ambitious when I say that Clipchamp has real potential to become ‘the Canva for video'.”