Cision PR Newswire
AI-Powered Automation Startup for Social Media, Munch, Raises $7.2M in Seed Funding Led By A* Capital
News provided byMUNCH
Nov 21, 2023, 7:00 AM ET
The funding will be used for R&D, customer growth and team expansion to further accelerate the company's global presence after reaching $2M annual recurring revenue within 8 months
TEL AVIV, Israel, Nov. 21, 2023 /PRNewswire/ -- Munch, a leading AI-powered automation platform for social media, today announced their $7.2 million seed funding round. The round was led by A* Capital, supported by Liquid2 and Pre-Seed investors Cardumen Capital and Remagine Ventures. The investment will be focused toward company growth, increasing its reach into new global markets and expanding its offering to enterprises. Additionally, the funds will be allocated to further develop Munch's solution helping content professionals seamlessly create and elevate short-form videos from existing long-form content increasing ROI.
The heightened social media demand has left content professionals with a labor-intensive, costly, and creatively draining process of manually producing content, making it difficult to find a place and engage in popular conversations. Munch reduces this burden by leveraging AI to streamline this resource intensive process with a platform that extracts engaging bite-sized clips from long-form videos that are primed for social media sharing in a matter of minutes. Recent reports found that 90% of marketers using short-form content intend to increase or maintain their investment as using short-form content has the highest ROI of any media format.
Munch's AI driven platform turns long-form marketing content into engaging and impactful clips for social media usage. It includes automatic editing, instant and precise subtitle generation, pre-scripted social media posts formulated through advanced AI technology and caters to a multilingual audience supporting over 20 different languages. Content is clipped and adjusted to always have the action at the center of the frame no matter what social media platform it will be shared on. This approach ensures a global reach for businesses looking to amplify the impact of social media strategy.
"Businesses and brands who successfully employ social media content strategies are seeing higher returns on their investments and improving their bottom lines," said Oren Kandel, CEO and Co-founder of Munch. "With Munch, any business, small or large, with quality content can now reach more potential customers – a revolutionary approach when it comes to social media usage for marketing teams around the world. We are grateful for our investors' trust and are eager to use the recent funds to expand our team and market presence, further entrenching Munch's position as a leading AI platform for social media."
The company's clip generation engine analyzes video content against the latest social media trends and marketing insights to maximize its viewership. With Munch, single purpose videos, such as podcasts, webinars, and livestreams, can be transformed into a series of engaging clips with the potential to go viral. Not only does this novel approach to content production and distribution increase business ROI, but it minimizes the time-consuming process spent on tedious editing tasks and allows brands to focus on creative ideation and strategic planning while remaining relevant on social media with consistent, effortless, data-driven content.
"A* Capital is committed to helping entrepreneurs build impactful companies and Munch is a prime example of what we look for," said Gautam Gupta, General Partner at A* Capital. "The rise of social media has turned the marketing landscape on its head and has created a need for cost-effective, time-saving solutions. Munch's cutting-edge platform brings an innovative approach to content creation, and we see the potential for the company to help businesses globally go viral with the click of a button. We look forward to seeing Munch build on its achievements to date and can't wait to see what's next."
Munch has reached over $2M ARR within 8 months and has over three thousand paying subscribers worldwide. The company has signed contracts with several major, well-renowned media giants as a primary short-form vendor.
Munch is a cutting-edge automation platform to help businesses maximize their ROI on social media content. Leveraging AI, Munch effortlessly turns lengthy videos into bite-sized compelling clips for social media that engage audiences and keep brands at the forefront of digital trends. The company empowers content professionals to seamlessly produce content that aligns with today's evolving media landscape. Founded in 2021 by Oren Kandel and Peter Naftaliev, Munch is headquartered in Tel Aviv, Israel. To learn more about Munch, visit https://www.getmunch.com/.
A* Capital is an early-stage venture capital firm partnering with entrepreneurs from the seed stage onward. The firm was founded in 2021 by Kevin Hartz, Gautam Gupta, and Bennett Siegel.
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