SundaySky Secures $9 Million in Financing from Leading VCs
- Created on Tuesday, 12 October 2010 00:00
SundaySky, a leading provider of dynamically generated videos for e-businesses, today announced it closed a $9 million Series B financing round led by Norwest Venture Partners (NVP) with follow-on investments from Carmel Ventures and Globespan Capital Partners. The investment will be used to drive sales and scale operations in order to support the increasing demand for automated video. Additionally, Dror Nahumi, partner at Norwest Venture Partners, will join SundaySky’s board of directors.
Founded in 2006, SundaySky provides e-businesses with a solution thatquickly, easily and cost-effectively distributes videos across entire websites, marketing channels and mobile and social platforms. Since its launch, the company’s solution has been adopted by top-tier websites in all major e-commerce industries. Demand continues to increase as online video becomes a must-have component for e-commerce websites. SundaySky’s disruptive solution is the only industry option to provide high-quality, scalable, fully-interactive and always up-to-date videos.
“It has been demonstrated that video content creates a higher level of engagement among online viewers, leading to increased awareness and a significantly higher conversion ratio. As businesses integrate video into their online presence, the technical problem of how to create, manage and change video content in a highly scalable and cost effective manner has emerged. SundaySky’s solution addresses these challenges and we are impressed with the company’s proven ability to impact performance for the leading websites that have adopted the platform,” said Nahumi.
“SundaySky has seen significant customer adoption in the past few months with extremely positive performance results across its deployments” said Shmulik Weller, CEO of SundaySky. “We are confident that the addition of a top-tier firm such as Norwest Venture Partners to our already strong list of backers will allow us to capitalize on our early successes and help us make automated video ubiquitous across the Web.”
"SundaySky brings a disruptive solution that is changing the entire e-commerce experience and is extremely powerful in increasing revenues and conversion rates," added Avi Zeevi, general partner and co-founder, Carmel Ventures and Chairman of the company. "We are committed to continue our support of SundaySky, together with Globespan Capital Partners, and are excited to be joined by Norwest Venture Partners, which brings significant added value to the company."