Sydney video production startup Shootsta today announced that it has raised $1 million in a deal with ASX-listed advertising agency, AdCorp. AdCorp has taken a 15 per cent stake in the company, valuing the one-year-old startup at just under $7 million.
The funds will accelerate Shootsta’s growth as the startup aims to expand its marketing and sales effort in order to add to an already impressive list of clients. To date, Shootsta has worked with big name clients including HypeDC, Toyota, KiwiBank, Bank of Queensland, Qantas to help produce their corporate videos.
Shootsta is a Sydney-based video startup that empowers companies to create their own professional corporate videos. The startup provides companies with a state-of-the-art video kit that’s been simplified for the best results with little finicking or setting adjustments.
They then run workshops for staff on how to shoot video using the kit and upload it to the cloud-based Shootsta video hub. From there, a Shootsta editor works with the company to turn around a professional video within 24 hours and pass it back to the client.
Their most notable work is the Qantas Running Man viral video, which amassed 500,000 views in less than a day and was turned around in less than 24 hours using Shootsta’s service.
Co-founder and CEO of Shootsta, said “This is a huge milestone for Shootsta. They say to never go into business with your best friend, but Tim and I have seen this company take off since we launched it this time last year. We’ve secured over 20 blue chip companies in the past six months with little budget for sales or marketing.”
“Corporates are falling in love with the idea of using video in every facet of their marketing strategy, and we’re enabling them to take advantage of that trend.”
“We’re helping them get the most out of this growing communications channel, and in turn teaching them that producing quality online video doesn’t have to be a time intensive affair. With minimal preparation and Shootsta’s help, a three-minute video only needs to take three minutes of a company’s time.” He said.
The company is expecting to scale rapidly as a result of the funding. With little sales or marketing efforts it has still secured over 20 blue chip clients in the past six months.
As a result of the deal, AdCorp CEO and Managing Director David Morris will also assume a role on Shootsta’s board.