AI-powered video commerce startup Vyrill raises $3m seed round to accelerate growth
VYRILL, a startup that enables video commerce with new, innovative 'in-video' search technology, announced the closing of a $3 million seed round of funding led by Noemis Ventures and Lightship Capital.
Gaingels, Gener8tor, IBOS ventures, Nurture ventures and angel investors also participated, including Head of Engineering at Google Shopping, Ex-Head of payments at Apple, SVP of E-commerce at Salesforce and more. Investment will help Vyrill extend its technology to e-commerce platforms, grow the team and expand its product offering to more businesses worldwide.
Vyrill has created the first 'in-video' search, analytics and video commerce solution that uses Artificial Intelligence to identify brand engagement content online, enabling brands to know their customer/fans, interact with them directly, and implement truly targeted marketing strategies featuring video. In July 2021, the company won first place in the world's preeminent startup competition, TechCrunch Early Stage Battlefield citing Vyrill as "well positioned to make a disrupted impact in their industry."
Launched in 2017 through UC Berkeley's Skydeck Incubator program, Vyrill was Co-founded by Ajay Bam and Dr. Barbara Rosario. Three years were spent researching and training machines to watch and understand millions of videos by parsing and analyzing the audio, text and moving images. Something that has never been done before. The result today, is Vyrill.
Vyrill is increasing its presence in critical tech-focused markets, such as Nashville, by joining key community groups to recruit top talent for its growing team and connect with potential clients. The Nashville Entrepreneur Center (EC) Project Music & Entertainment, a program that introduces growing companies to an extensive network of connections to foster innovation, nurture growth and drive the future of the entertainment industry, has played a vital role in connecting Vyrill leadership to influential investors and customers. Vyrill and The EC's continued collaboration will greatly benefit the community of Nashville by adding career opportunities to the city's growing tech community.
Ajay Bam, CEO, Vyrill: "Vyrill is like a 'Google' for videos on the Internet, allowing brands to listen and watch inside the video to unlock its potential for revenue. Vyrill helps brand marketers make sense of massive amounts of video data on multiple platforms in multiple languages for video commerce. That means we help businesses discover, understand and license videos so they can find new customers and grow revenue."
Lightship Capital has taken a proactive approach to Vyrill as an investment by offering advisory services as well as financial backing to strengthen the team and the brand.
Brian Brackeen, General Partner, Lightship: "Two of our favorite industries are Artificial Intelligence and Consumer Packaged Goods. We see a winner in both of these spaces in Vyrill. They use AI to make CPG companies unstoppable, giving them a true superpower. The power to see, understand, and react to any content, anywhere, at any time. It's like magic, and we are so excited to be investors in this transformative company."