Storykit AB

Storykit AB provides a video automation platform that empowers users to create professional-quality videos with minimal editing skills, leveraging AI technology to transform text into engaging visual content. Founded in 2013, Storykit AB is headquartered in Stockholm, Sweden, and specializes in video automation solutions. The company was co-founded by Fredrik Strömberg and Peder Bonnier, where Peder Bonnier currently serves as CEO. Storykit has raised a total of USD 10.

00 mn in funding, with its most recent round occurring on December 16, 2021, led by Expedition Growth Capital. The company has completed 2 deals to date and does not have any known parent companies or subsidiaries. Storykit offers a leading video automation platform designed to facilitate the creation of professional videos without requiring extensive video editing skills. The core product enables teams across various sectors—such as digital marketing, PR, HR, and corporate communication—to generate customized videos for diverse platforms, including LinkedIn, Instagram, and YouTube.

By utilizing AI-powered text-to-video functionality, users can effortlessly transform written content into engaging visual narratives that adhere to brand guidelines. This service caters to a broad customer base, including over 1,000 brands globally, such as Canon and Listgrove, allowing organizations to streamline their video production processes and increase output significantly. Storykit’s solutions are marketed primarily within Europe and North America, addressing the diverse needs of businesses looking to enhance their communication efforts. For the year 2022, Storykit reported a revenue of USD 6,426,894.

90 and an EBITDA loss of USD 3,386,638. The company operates on a subscription-based revenue model, offering various pricing plans tailored to meet the needs of different team sizes and organizational requirements. The company provides both Pro and Enterprise plans, which include advanced features such as voiceovers, custom templates, and access to a premium library of multimedia resources. Transactions typically occur directly between the firm and its clients, which can range from small businesses to large enterprises seeking to boost their video marketing capabilities.

Each subscription plan is structured to provide a comprehensive suite of tools for video creation, enabling clients to harness the platform's capabilities effectively. Following its recent funding round in December 2021, where Storykit raised USD 10. 00 mn, the company plans to utilize this capital to enhance its marketing efforts and expand into new markets and customer segments. The specific regions targeted for expansion include Europe and North America, with initiatives aimed at launching upcoming products designed to further streamline video creation processes.

This strategic growth plan aims to reinforce Storykit’s presence in the video automation market.