GlossAi Ltd., a company that produces an AI-driven platform for producing large-scale video content using generative AI, today announced that it has raised $8 million in a seed funding round to develop the capabilities of its service and reach a wider audience.
New Era Capital led GlossAi’s seed round with participation from GuideStar Ventures, 97212 Ventures, MindCET Ventures, Ginossar Ventures, Maccabee Ventures, Rafi Gidron and Zipris Family.
The company provides a platform that can scan through a business’s repository of video to produce content for a large number of potential use cases including social media, marketing, training, learning, product descriptions and more. The service allows any company to produce videos rapidly that are “fit-for-purpose.” That way, they can avoid the labor-intensive work of having multiple video editing professionals poring over hours of video in order to splice together clips to produce a training video or find specific snippets for Instagram or TikTok.
To do this, GlossAi uses generative AI models to analyze hundreds of parameters such as text, tone, pace, facial expressions and audience engagement as well as millions of data points to make decisions. As a result, a single webinar, keynote or podcast can be rapidly cut part into smaller bits that can be quickly shared out or spliced together into different types of content.
“We’re allowing organizations to be omnipresent, generating targeted content at scale with fewer resources,” said Ofer Familier, co-founder and chief executive of GlossAi. “Our customers are seeing a 30-40% uptick in engagement with up to 70-80% cost reduction.”
Using the platform, customers have been able to take the content the company already produces on a daily basis and rapidly produce extra ancillary content for other media channels. For example, sharable short-form videos, trailers, and even other types of media such as ebooks, blog posts, carousel images and more.
The idea is that all of this comes from existing content and is reformulated and packaged for the intended medium. Through the use of the platform, companies can take their very own video resources and get more out of them than they ever have before, all through the application of AI.
“Based on the creative ways our enterprise customers are using our technology, we see webinars with their own trailers, podcasts promoted on TikTok, eBooks created from classes, and more,” said Familier.
In the past years, short-form video consumption has been on the rise. It’s difficult to get statistics on the industry, but the short video app TikTok exceeded 1 billion active users by the end of 2021 and is among the most downloaded apps in the Android Play store. YouTube Shorts hit 50 billion daily views this month, up from 30 billion daily views the company reported as part of its Q1 2022 earnings.
This trend has put a lot of pressure on companies to find and produce clips that can be consumed quickly to garner attention from audiences using these platforms. GlossAi’s platform greatly simplifies the process of creating shorts that can be rapidly distributed on these platforms making it as easy as pressing a button and then looking at the generated content.
GlossAi currently has a team of 30 employees who will use the new funding to expand its global footprint and develop more AI-driven products and features.
The company expects that with the emerging popularity surrounding generative AI, especially headlines surrounding the conversational AI ChatGPT and image generate DALL-E, many businesses will see the benefits of the tool for creating video content to connect with audiences and for their own internal uses.