Infront backs AI video tech company as part of €7.2m funding round
Infront, the sports agency that owns Host Broadcast Services, has taken a stake in the AI-driven video enhancement technology developer Minute.ly.
Referred to as ‘strategic participation’, the backing is part of a US $8m (€7.2m/£6.4m) finance round that it is hoped will allow Minute.ly to continue to develop its products and speed up its global expansion.
Infront will use the technology to provide its sports customers with additional tools for automatically editing and generating video clips.
Christian Mueller, Infront’s vice president of strategy and business development, said: “The technology will allow current and future clients to reach more fans around the world, optimising marketing efforts efficiently and reliably to generate new revenue streams. Collaborating with a start-up aligns perfectly with our strategy of focusing on innovative client-orientated solutions.”
Minute.ly’s proprietary technology uses insights gathered from extensive AI analysis to help publishers with their video creation and management.
It automatically analyses videos, extracting the most exciting or important seconds to create video teasers. This can then be used to connect viewers with targeted content, potentially increasing viewer engagement on broadcasting sites, the company said.
Amit Golan, Minute.ly’s chief executive and co-founder, added: “In today’s highly competitive market, Minute.ly gives publishers and content creators the tools they need to make the most of their video inventory, maximize revenue and cut back on costs.
“This investment will enable us to continue to develop and scale our technology – already at the forefront of the online video revolution – helping bring more publishers and content creators into the video age.”
Minute.ly products include: Top Videos, which automatically aggregates top-performing video articles and presents internal video recommendations to consumers; Stories By Minute.ly; and Automated Preview Video (APV), which generates video teasers.