Getty Images leads $16M investment in Promo.com, a social video template tool
The social video tool Promo.com just raised $16 million in a Series B round led by Getty Images, the company synonymous with stock imagery.
Brands, creators or whoever else might need some quick and dirty video content can search Promo.com for what they need, just like they would use a stock photography service. Getty offers its own library of stock videos as well, but Promo.com provides both the video clips and the tools for non-editors to craft a basic edit with a little bit of customization.
Brands can select an existing professional video clip from a library, plug in their own message and add a logo or custom audio. All that’s left is downloading the customized video and whisking it off to their social channels.
Mizrahi-Tefahot Bank, one of the largest banks in Israel, also participated in the Series B round through debt financing. Promo.com’s existing “strategic partnership” with Getty Images will deepen as part of the deal, giving the former company access to the latter’s expansive existing pool of video clips.
Of course, Promo.com isn’t the only show in town. Video creation platform Biteable raised $7 million of its own in December, and similarly allows companies to make bright, bite-sized video content for social. The super streamlined graphic design platform Canva also supports video editing with its own library of stock images. Vimeo offers its own video template service too, known as Vimeo Create, which grew out of the company’s acquisition of the AI-powered video editor Magisto.