Co-Authored by Christian Knott, Partner at Capnamic Ventures, and Dorothea Gotthardt, Investment Analyst at Capnamic Ventures
2020 was the year of the video. Amidst the global pandemic and a collective shift to the home office, synchronous video communication replaced most of our personal meetings. Social media platforms and the advertising industry have long understood that video is the winning horse for the competition for consumer’s time. In a 2020 survey, ⅓ of respondents declared that they watched more than 10 hours of online video per week. Instagram, Netflix, TikTok, YouTube — 50% of Millennials and Generation Z stated that they “couldn’t live without video in their daily lives”.
From 9 to 5 though, this trend is left at the (home) office doorstep and video is generally limited to synchronous communication in form of video calls. Authentic interaction should not be limited to live video calls though as it has become more important than ever in these times of social distancing — also at the workplace! Not only does video content support more authentic communication, but employees are also 75% more likely to watch a video than to read a text. Communication departments all over the world have understood the power of video and are working hard to integrate it more into their communication strategy. But: Producing a video is often easier said than done though. As of today, corporates can either outsource their video to an expensive agency or create the content in-house, which requires the mastering of several complex tools while being highly time-consuming. Despite best efforts, lacking resources have so far limited the usage of video within organizations. Distributing professional video creation across organizations must happen — but the need is not met yet.
This is why we invested in cofenster
The cofenster app enables companies to produce videos at scale, fully-automated and with an unlimited number of users merely recorded by anyone in the organization. Anyone can plan and script the video on their desktop and simply share the storyboard with a colleague, who can then record the video with his or her mobile phone. In the blink of an eye, not only is the video produced, but cofenster automatically renders and cuts the video, implements subtitles where needed and includes Corporate Identity elements if required — all of this in approximately 10 minutes in total. This intuitive and collaborative process enables companies to fully leverage the power of video and to turn all their employees into creators.
Since the launch of the platform in August 2020, the cofenster way of making video has already convinced more than 30 customers including heavyweights like Beiersdorf and STADA. Customers use cofenster for the creation of all kinds of people-centric content: from CEO memos, to onboarding videos or even product demos — cofenster democratizes video across departments and use cases.
When we first met cofenster’s founders Tom, Olli and Finn, we were instantly captivated by their drive to serve a market need and really make a change in how organizations communicate. Tom and Olli have been working together for years and Finn has joined them as the three jointly share the desire for a professional and easy to use solution that keeps entry barriers as low as possible. The three founders are currently joined on their mission by a team of six employees, all working from Hamburg, Germany. With the capital raised in this Seed financing round, cofenster will hire talent across tech and go-to-market functions to further fuel the democratization of video across organizations.
We are thrilled to join Tom, Olli, Finn and the entire cofenster team on their journey to bring the opportunity of video to every organization.
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