Fund-returning exit leaves Moneta with a considerable equity position in global technology and sports content company Minute Media

SACRAMENTO, Calif.--(BUSINESS WIRE)--

Moneta Ventures today announced the acquisition of VideoVerse, an AI-powered video solutions provider, by Minute Media, a global leader in technology and sports content. As the largest equity holder in VideoVerse, Moneta notes that the transaction represents a major milestone for both companies, strengthening their ability to meet the evolving needs of the rapidly expanding sports content ecosystem.

Founded in 2016, VideoVerse’s AI-driven SaaS technology platform Magnifi allows content owners and rights holders to automatically detect key moments, create highlights in real time, and distribute compelling short-form video content. The platform uses computer vision, natural language processing, and machine learning to interpret visual and audio signals, identify key moments, and create better video content for audiences. Magnifi also incorporates generative AI tools such as multilingual subtitles, automated thumbnail and metadata creation, and a flexible rules-based engine that streamlines complete end-to-end workflows, providing content teams with a comprehensive editorial solution.

“We are delighted to have acquired VideoVerse and are excited about the synergies it brings to our combined business,” says Asaf Peled, the Founder and CEO of Minute Media. “The acquisition allows us to incorporate AI creation capabilities into our platform, while giving VideoVerse the distribution and monetization solutions it needs to better serve customers around the world. We also look forward to working with Moneta Ventures, VideoVerse’s largest shareholder and a trusted partner, who will be rolling over part of their equity into Minute Media.”

An early-stage venture capital fund that invests in enterprise software companies, Moneta Ventures led VideoVerse’s $5 million Seed round in 2021, becoming VideoVerse’s first US investor. Moneta subsequently helped incorporate VideoVerse into the United States market, where its rapid growth continued.

“The Moneta team has been one of our greatest supporters over the years,” says VideoVerse CEO Vinayak Shrivastav. “There have been so many ups and downs along the way and they have always been a constant, supportive, and reassuring presence. We couldn’t have gotten to this point without their partnership.”

“Vinayak and his team have done a phenomenal job of growing VideoVerse into the great success that it is today,” says Lokesh Sikaria, Moneta’s Founder and Managing Partner. “This is not only a very significant sportstech transaction, but also a fund returning exit for Moneta that further validates our investment thesis while rewarding our LPs. We couldn’t be happier with the outcome.”

Moneta Ventures invests in Seed and Series A enterprise software companies. Their investment thesis centers on Software++, a set of criteria that involves investing in software companies with multi-layered monetization strategies and a transformational technology play.

About Magnifi by VideoVerse

Magnifi, with its award-winning technology, has found an extremely strong product-market fit in serving enterprises across numerous industries - OTT players, broadcasters, sports clubs and leagues, marketing agencies, e-gaming platforms, schools, colleges, and more. Magnifi is building the next-generation video editing ecosystem, addressing a broad range of use cases in the post-production process. The company specializes in generating instant key moments and auto-sized short videos, enabling content rights holders to increase their presence and viewership. Magnifi works with leading rights holders/owners, including FIFA+, Pro Panja League, Portugal Football Federation, Clubber TV, The Cowboy Channel, and other leading sports broadcasters globally.

About Minute Media

Minute Media is a global technology and content company specializing in sports and culture. Minute Media's proprietary tech platform enables the creation, distribution, and monetization of digital content experiences. They own and operate leading sports content brands, including The Players' Tribune, FanSided, and 90min, and serve as the publisher of Sports Illustrated and Sports Illustrated Swimsuit across digital and print platforms. Minute Media has a robust sports highlight rights portfolio through STN Video, providing distribution and monetization for leagues and teams. The company reaches 200M monthly users, powering 1,500+ content creators and 400+ distribution partners across 14 global markets in 10 languages. They also reach a robust print subscriber base through the publication of Sports Illustrated, Sports Illustrated Swim, and Sports Illustrated Kids magazines. Minute Media has offices in New York, London, Tel-Aviv, São Paulo, and Asia.

For more information, visit www.minutemedia.com.

About Moneta Ventures

Moneta Ventures is a venture capital firm that partners with early-stage, high-growth enterprise technology companies across California and Texas. Founded by serial entrepreneurs with a history of building and scaling successful technology businesses, Moneta pairs capital with hands-on operational support to help founders grow enduring companies. Since 2014, the firm has invested in more than 50 companies across emerging and underserved venture markets, including Aumni, VideoVerse, Grin, Mindtickle, Sibros, and App Orchid. Moneta has offices in Austin, TX and Folsom, CA.

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Source: Moneta Ventures