PlayPlay, an online video creation platform for internal company teams, today announced that it has raised $55 million in a Series B round led by New YorkInsight Partners, a global venture capital and private equity firm, with participation from Balderton Capital. The investment will allow PlayPlay to further enhance its platform, accelerate its international expansion by developing its first US-based office in New York Cityand hire 100 new technology, product, sales and marketing employees across Europe and North America.
PlayPlay enables businesses to simplify and scale the creation of engaging video content. With the company’s innovative SaaS solution, organizations can unleash the power of video to communicate and engage with key stakeholders including prospects, fans, employees and candidates. PlayPlay was founded in 2017 by Thibaut Machet, former director of social networks at Eurosport, and his colleagues Aurélien Dayres and Clément Moracin. The three founders set out to create a powerful yet easy-to-use solution that enables in-house teams without any filming or editing skills to create high-quality videos, to improve their communication.
The rise and revolution of video
Video is visibly everywhere, dominating as the most engaging type of content on all major social media platforms. Businesses now need to embrace this pervasive trend in order to stay relevant and connected with their audience. According to a 2020 study by Wyzowl, 86% of businesses use video as a marketing tool, and 93% of marketers who use video say it’s an important part of their marketing strategy. However, while organizations want to join the video revolution, they struggle with the time-consuming and expensive process of creating content. For years, they’ve relied on agencies, in-house teams, or dabbled in DIY video solutions, and this unsatisfying and tedious process has led many to abandon videos altogether. This is where PlayPlay can help support.
A powerful and seamless video creation solution trusted by world-class brands
PlayPlay’s mission is clear: strengthen the connection between organizations and their key audiences through video – inside and outside. PlayPlay makes this possible by enabling anyone in an organization to seamlessly turn any message into a compelling video, whether it’s a flagship client project, an internal the company for employees or a recruitment announcement. The secret sauce of PlayPlay develops a product that is extremely easy to use, combined with powerful features. The SaaS solution produces videos of exceptional quality, with advanced and fully customizable branding, and a variety of ready-to-use video templates for all of an organization’s communication needs.
Transforming brand communication is at the heart of PlayPlay’s mission. For this reason, it offers much more strategic value to businesses than other video creation tools on the market.
“The primary focus of an organization’s communications, HR, social media, and marketing functions is not to create videos,” Machet said. “These teams want to sell products, hire people, and engage their communities, and video is the most powerful type of content to help them do that. PlayPlay makes it easy for them to achieve their communication goals.”
The video creation solution is already used by teams ranging from midsize companies to the world’s largest giants in a variety of industries. Today, more than 1,000 companies in 15 different countries use PlayPlay to create engaging content for their audiences, including Yext, Heineken, and AXA.
What the future holds for PlayPlay
In addition to expanding its international footprint in the United States, PlayPlay also plans to triple the evolution of its product vision so that it can play a more central role in the daily communication tasks of its customers. That means adding more features like collaboration and analytics, but also honing its storytelling capabilities and identifying more use cases.
“With PlayPlay’s innovative video creation platform, anyone in a business can create engaging, compelling content that moves the needle with audiences and key stakeholders,” said Rebecca Liu Doyle, managing director at Insight Partners. “Insight was impressed with the simplicity of the PlayPlay product, the clear vision that Thibaut, Aurélien and Clément have for the business, and the extremely satisfied customers both in Europe and the United States. We couldn’t be more excited to be a part of this exciting next chapter in PlayPlay’s ScaleUp journey.