Irish B2B video sharing platform Overcast has announced that following a €500,000 investment, it is to create 70 jobs in its Dublin office over the next three years.
Co-founded by Philippe Brodeur and Zsolt Lorincz, Overcast is a Dublin-based start-up that follows a ‘YouTube for businesses’, model whereby its video sharing platform specifically caters towards B2B customers.
Unlike the dominant commercial video sharing platform YouTube, a client of Overcast would have full control over what goes into the video, over a simplified video format across a number of different formats.
The service is targeted at businesses such as video producers, media agencies, marketers and broadcasters.
Now, the company has revealed that it plans to expand considerably in the coming years, following an investment of €500,000 in Overcast’s latest funding round.
This will allow the company to hire 70 staff over the next three years, particularly in the areas of marketing and sales.
However, speaking with Siliconrepublic.com, Overcast CEO Brodeur said that the company is also in the process of hiring a small number of development staff to make the platform more efficient in the cloud.
Planned expansion in UK and US to follow
Additionally, Brodeur has said that these new funds will bolster its efforts to move into international markets, starting with the UK this month, where it has already begun to search for staff. This will be followed by a move into the US later this year.
“We are thrilled with the interest in our funding round, with the amount raised underlining the confidence in our product,” he said.
“Despite being a young company, we have already attracted a number of blue chip clients, such as the Daily Mail and Dublin City University.
“The funding will be used to expand our headcount to help with additional product development and also expand into new markets, as companies around the world face the same challenges surrounding the management of video files.”
This latest investment follows the €100,000 that Overcast made early last year from a combination of angel investment and Enterprise Ireland’s Competitive Start Fund.
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