Early stage funding firm Antler Australia not too long ago backed a brand new cohort of startups as a part of its ongoing program to construct nice native tech firms.
Startup Every day is sharing the main points of every enterprise within the “Antler Investor Memos” sequence, which is designed to present you a fast, sharp understanding of the startups and other people concerned, with many searching for comply with up capital following Antler’s preliminary pre-seed funding.
Firm title: ScreenApp
Formation date: 2022
Stage of enterprise: Pre-Seed
Founders: Andre Smith and Buddhika Jayawardhana
Present buyers: Antler
Presently elevating: Sure
Description of enterprise
The pandemic accelerated organisations’ digital transformations throughout the globe, with many quickly transitioning to video conferencing and coaching in a remote-first atmosphere. Zoom had over 300 million video convention contributors each single day in 2020, whereas the complete video conferencing market peaked at US$7.71 billion final yr, equating to a 20% uptick in 2021.
As organisations embrace distant work they typically face issue documenting tons of, if not hundreds, of hours of video content material created. ScreenApp solves for this as an all-encompassing enterprise assistant that revolutionises the way in which organisations seize, organise, and eat movies.
The SaaS platform has a singular mixture of straightforward video seize, AI-powered searchability, summarisation and workflow integrations in a unified workspace. From inner workers coaching, onboarding prospects, recording every day conferences, educators creating libraries in fact content material, and past, ScreenApp helps organisations seize and generate insights from their video content material.
With over 17,500 energetic month-to-month customers, ScreenApp’s easy-to-use performance is being described by many as “just like speaking to somebody who has watched the movies for you.” Within the final month alone, the platform has processed over 130,000 movies, empowering organisations to bolster their collective data sharing.
Antler funding thesis
“With over 17,500 month-to-month customers on the platform after securing Antler’s Pre-Seed funding in December, ScreenApp’s sizeable person traction is a few of the strongest we’ve seen of any native portfolio firm inside months of becoming a member of Antler,” stated Cath Rogers, Associate at Antler Australia.
“Collectively, Andre and Buddhika have launched or constructed 4 video-centric startups over the previous decade. Their insatiable drive to derive tangible worth and insights for hundreds of hours of video content material, powered by AI, offers us the conviction that ScreenApp will turn into a important data base for organisations.”
Traction/ milestones, to this point
Since securing Antler’s Pre-Seed in December, ScreenApp has soared to new heights with over 225,000 registered customers, up from 180,000. With greater than 400 paid subscribers, ScreenApp has skilled over 20% month-on-month development in Month-to-month Recurring Income alongside rising curiosity and new Enterprise degree subscriptions to unify their staff’ ScreenApp accounts.
Newest funding
Pre-Seed from Antler.
Use of funds
Antler Australia’s preliminary funding will allow ScreenApp to speed up its development by increasing its product providing, rising its headcount, investing in buyer acquisition methods and partnerships, and enhancing person expertise.
As ScreenApp continues to quickly develop its sizeable person base, the corporate is concentrated on activating income development for the enterprise.
The founders say
“Video is the richest type of communication there’s. Throughout the previous few years, it has advanced to turn into a enterprise important asset. The transition to distant work has accelerated the demand for video worldwide, and but, documenting movies is sophisticated, typically disorganised, painful and unproductive to find and eat for organisations,” stated cofounder Andre Smith
“ScreenApp exists to make video simpler and extra accessible for individuals to retailer their data. Our imaginative and prescient is to make video the common language for enterprise documentation.
“We’re deeply acquainted with the challenges and ache factors organisations face when capturing, organising, and summarising their video content material.
“With our energetic month-to-month person base reaching over 17,500, using our platform has prolonged far past what we initially anticipated. As a video data base, staff are not experiencing conditions of lacking one thing vital stated in a gathering, as ScreenApp is capturing and sharing it for them. Past this, with the speedy uptake of ChatGPT many HR groups at the moment are leveraging our product to make sure candidates within the recruitment course of full evaluation duties assigned to them, fairly than utilizing generative AI know-how to do it for them.”
“Antler has been instrumental in offering us with sturdy mentoring and training, in addition to collaborative help in the direction of creating a profitable enterprise technique and product market match. By its group of skilled entrepreneurs and business specialists, Antler has been in a position to present ScreenApp with invaluable steerage alongside a group of formidable founders to share the expertise.”
What’s subsequent?
Antler, a worldwide early-stage VC, is revealing all its newest investments made in formidable Australian founders and startups. With over 100 investments in early-stage firms, ScreenApp is certainly one of its most up-to-date portfolio firms.