Ahead of the game
While the market for user-friendly, browser-based video production software was once underserved, the Covid-19 pandemic has seen a boom in new products. But Entrepreneurs’ Programme grantee Clipchamp has already established a firm presence in the space and they’re determined to maintain momentum in an increasingly competitive market.
Co-founders Alex Dreiling, David Hewitt, Soeren Balko and Tobi Raub originally came together in 2014 to develop the world’s largest distributed supercomputer but dropped the idea after consulting with industry experts, including Entrepreneurs’ Programme facilitator, Chris Burnett.
Instead they made a significant pivot decision to create a website that compressed and converted video content in a way that enabled faster upload times to websites like YouTube. This product would later form the basis of Clipchamp as it is today; an end-to-end platform that allows families to make home videos, teachers to create student classes and company executives to deliver high-level communications to staff.
Making an impact
Clipchamp received their first of two Entrepreneurs’ Programme grants in early 2016 through the Accelerating Commercialisation service. In September of that year, they had already amassed more than 100,000 users.
Now, since receiving just under one million dollars in matched funding from the programme and further support from high-profile investors, Clipchamp has gained over 15 million users, employed almost 80 full time staff globally and been pegged ‘Canva for Video’ by Shark Tank investor, Steve Baxter.
Clipchamp Co-founder and CEO Alex Dreilling said they had always predicted that companies and organisations would have to switch to video engagement at scale over the next decade, but the Covid pandemic has just accelerated that need at an unprecedented level. While they feel fortunate for their continued success despite the current climate, they recognised early on that there was an opportunity for them to support global organisations during such a difficult time.
Shortly after the pandemic hit, they introduced free trials for businesses around the world, waived fees for all charities, and provided all teachers and students across the globe with free premium plans.
Clipchamp’s Head of Product, Anna Ji said the decision to support educators and students in this way was an easy one.
“We wanted to enable educators and students when the world suddenly went remote and we knew that getting budgets approved wasn’t easy, so the team made a really fast decision to offer free access, it was just the right thing to do.”
Onwards and Upwards
Clipchamp is on its way to becoming one of Queensland’s first tech companies to achieve ‘Unicorn’ status – the label afforded to others like Canva and AfterPay that are now valued at over one billion dollars.
When reflecting on their early days, CEO Alex said that his advice to other startup founders and Entrepreneurs’ Programme applicants would be to reach out to other businesses who have been through it before.
“Whether it’s raising capital or facing a legal challenge, try and reach out to other people who have been through it before and hear some firsthand experience.”
The Accelerating Commercialisation team are proud to have played a part in Clipchamp’s journey since their participation in the Entrepreneurs’ Programme in 2016 and 2017, and they’ll be keenly watching their continued success as the tech eco-system grows across Australia.