Seoul, South Korea — VideoMonster Inc., the online short-form videomaking solutions provider based in South Korea, has announced that it has secured a Series A round investment worth KR₩3b or approximately US$2.5m. Participants in this round include Innopolis Partners, Smart Study Ventures, ETRI Holdings, and Union Partners.
Through the funding, VideoMonster. plans to accelerate the adoption of AI technology in advancing its services, including the launch of the long-form video editing solution.
Chun Donghyuk, CEO of VideoMonster, said, “Having successfully closed the Series A round, we have gained the momentum to introduce AI technology for the entire solution. With this, we plan to innovate the entire video editing process and focus on the advancement of service for our target users in the global market.”
Established in 2019, Videomonster underwent a global expansion and is now present in more than five other countries and continues to pursue strategic localisation, starting with local language services, including English, Thai, Vietnamese, and Indonesian. The company has also leapt forward as a global service by achieving 150,000 monthly average users within six months of expanding overseas.
