Digital Media Startup Wibbitz Secures $20 Million

Wibbitz announced it has raised $20 million in Series C financing led by BDMI, with participation from Associated Press, Lool Ventures, Horizons Ventures, The Weather Channel, TF1 and NantMobile.

Wibbitz is a text-to-video technology platform that automatically creates premium, short-form videos using text content. Its platform enables publishers to produce videos more efficiently by providing intuitive editing tools and licensed content from partners including Reuters and Getty Images. Wibbitz supports video production for partners like Hearst and USA TODAY Sports , and was awarded “Best Mobile Publishing Product” at the Mobile World Congress, and the Grand Prix Award by UNESCO for Worldwide Innovation.

The financing will be used for key hires across Wibbitz’s development, product, design, sales, marketing, support, and in-house editorial teams.