Aussie adtech MagicBrief secures $2 million in pre-seed funding
Sydney-based adtech startup MagicBrief has just secured $2 million in pre-seed funding, with the founder of Vimeo and the chief of health-tech startup Eucalyptus among the early backers.
MagicBrief is a performance marketing platform that allows the easy building and editing of video storyboards.
Within a year, the platform has attracted “thousands of users from hundreds of high performance marketing teams around the world,” according to its founders, with the US being its largest market.
In a pre-seed funding round led by Blackbird, MagicBrief secured funding from Zach Klein, founder of Vimeo, alongside Matt Miller, founder of UsTwo, Spriggy founder Alex Badran, and Craig Piggot, founder of Halter, and Eucalyptus CEO Tim Doyle.
“With more big brands moving away from an agency model and bringing their creative teams in-house, I noticed that they were still adopting outdated creative processes, the same workflows they had learnt from traditional advertising agencies”, says MagicBrief co-founder and CEO George Howes.
“Startups and established brands alike are responding to economic pressures; tightening their belts. Having a smaller team of creatives in-house is low-hanging fruit, if they can get it right.
“Platforms like Tiktok are driving an overwhelming push towards short-form interest-based video creative, and requiring a growing number of these assets that many companies are struggling to keep up with.”
Howes came from the aforementioned Eucalyptus, where he worked as Creative Director for two years. He co-founded MagicBrief less than a year ago with Dan Nolan, formerly the CTO and founder of conversational AI company Pattr.
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