Idomoo Raises $18M In Funding To Help Businesses Launch Personalized Video Campaigns

Personalized video (PV) platform Idomoo recently raised $18 million in early stage funding to further improve its cloud-based service and allow businesses to launch marketing campaigns using high quality dynamic videos. The round was led by venture capital firms Target Global and Disruptive.

“We’re very excited about the success of our latest funding round. Video marketing and personalized content have exploded in recent years. With the fresh capital, we will be able to further develop and improve our platform and allow businesses to launch massive PV campaigns easily,” Idomoo CEO and co-founder Yaron Kalish said.

Delivering Maximum Engagement

PV combines two of marketing’s most potent tools today – personalization and video content.

Personalization has become vital to today’s marketing efforts as they can keep customers engaged. One only has to look at the successes of Amazon.com, Inc. AMZN and Netflix Inc NFLX to see how providing customized experiences that are based on individual preferences can continuously generate business. Marketers, in general, report that personalization has increased their sales by an average of 20%.

The demand for video content has been rapidly increasing over the years. Video-sharing platform YouTube has grown to be one of the most visited websites in the world, while 53% of internet consumers want to see more video content from the brands they support – more than any other kind of media.

Companies are already shifting their marketing efforts to utilize video.

Marketers who have used video campaigns reportedly obtain 66% more qualified leads per year, resulting in increased sales. Consumers themselves are also demanding for more video content. Explainer videos and short-form content help audiences understand products and services better. The more informed customers are, the more likely they are to complete their purchases.

Exploring New Use Cases

Previously, PVs were used as novel means to reach out to users and mainly for retail advertising. Today, they are now being used across various stages of the customer journey such as customer education, onboarding and retention, and in industries such as insurance, travel and fitness. 
Campaigns launched using Idomoo’s platform have been quite successful, underscoring the potential the technology has to positively impact different business areas and industries.

Major US airline Delta, for example, used Idomoo’s platform to create PVs for members of its SkyMiles Medallion loyalty program. By leveraging frequent flier data and Idomoo’s platform, Delta was able to create unique videos for their members which could be easily shared on social media. The campaign improved Delta’s customer acquisition by 60%.

Co-op Insurance has also used Idomoo’s platform to launch a PV campaign to educate customers about insurance products and increase customer engagement. The company saw a 47% uplift in their engagement levels versus industry benchmark after the launch of the videos.

“We’re harnessing the power of personalized content and putting it in video format. So far, our clients have been successful with their PV campaigns and they’re satisfied with the results. We’re definitely exploring new use cases for PV across business areas and hopefully help our users to get better business results,” Kalish added.

Making PV Campaigns Easy

Through Idomoo’s platform, businesses just have to log in to their account in order to generate dynamic videos and launch campaigns. Manually editing and rendering thousands of videos can often take weeks to accomplish, but Idomoo’s graphic processing unit (GPU) based rendering engine allows users to create customized videos of cinematic quality extremely quickly.

Marketers can also launch their campaigns through the platform and send the personalized videos to each of their target users in real time and at a large scale. The generated videos can also be integrated in customer relationship management (CRM) systems and social media channels like Facebook Inc. FB.

In addition, companies can readily track the performance of their campaigns through Idomoo’s analytics dashboard.

Anticipating Growth in the Space

While PV is still in its early stages, video is expected to continue its rise to become the preferred content format by audiences. As such, PV is expected to face rapid growth in terms of adoption and in its range of applications for business. The emergence of PV platforms like Idomoo, which can help businesses manage dynamic video campaigns easily, is certainly a welcome development for all. The massive success of Idomoo’s funding round should be a positive indicator of how PV can soon become a truly game-changing technology for marketers today.

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