Bertelsmann bets on Wibbitz’s series C

Oct 24, 2017 • Sam McCaffrey

The text-to-video platform developer took its total funding to more than $30m with a $20m round led by Bertelsmann Digital Media Investments.

Bertelsmann Digital Media Investments (BDMI), a corporate venturing subsidiary of media group Bertelsmann, led a $20m series C round for Israel-based video creation platform Wibbitz yesterday that included several other corporate investors.

Media companies The Weather Channel, TF1 Group and Associated Press also took part in the round, as did mobile health technology developer NantMobile and venture capital firms Horizon Ventures and Lool Ventures.

Founded in 2011, Wibbitz has developed technology that uses artificial intelligence (AI) to convert text-based stories…

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