D-ID video production and editing platform stated on Tuesday that it has acquired B2B video platform Simple. The companies did not reveal the financial terms of the agreement.
The product of SimpleShow will operate under the umbrella of D-ID and eventually the two platforms will be merged, D-ID Gil Perry’s chief executive told TechCrunch.
Founded in 2008, Simpeeshow increased more than $ 20 million in funding, according to Crunchbase figures.
The start has offices in Berlin, Luxembourg, London, Miami, Singapore, Hong Kong and Tokyo. As part of the merger, the company will have unified offices in Berlin, Tel Aviv and the United States. D-ID did not mention the size of the SimpleShow team, but said the combined entity would have 140 employees.
“SimpleShow approached us first for a strategic partnership. We saw that there was synergy between management and product groups,” Perry said. ‘We thought we had to increase our speed in arresting a big [part of the enterprise avatar video] market. We thought that acquiring Simpeshow would give us the necessary impetus to it. ”
Both companies see a strong future of digital avatars for different types of videos, including training, marketing and sales. D-ID already has a series of interactive avatars it offers to its customers.
Simpleshow’s CEO, Karsten Boehrs, said that when he joined the company a decade ago, he was largely a video producing business and business.
“To achieve and serve more customers internationally, we have decided to build a technological platform based in SAAS,” Boehrs told TechCrunch. “One of the first tools we started was a video tool to Video for our customers in 2017.”
Boehrs added that in recent years, with the rise of AI, talks with companies such as Synthesia for possible partnerships and eventually landed on D-ID to get it.
Along with its product, Simpeeshow also brings more than 1,500 business customers such as Adobe, Audio, Airbus, Microsoft, Bayer, HP, T-Mobile, McDonald’s, Ebay and Deutsche Bank. D-ID’s Perry said this would boost the company’s lower line and bring it closer to profitability.
Going forward, D-ID wants to create interactive training videos that will allow users to cut off a video presented by an avatar and ask them a question or take a quiz.
D-ID has strong competition for adopting digital avatars businesses in companies such as Synthesia and Soul Machines. Companies like Google and Mccinsey They also develop solutions to allow customers to use digital avatars.
D-ID has raised $ 60 million funding to date. The company said it has secured funding for Bankroll from acquisition, but did not disclose the money.
