Engagement — Platform Due Diligence
Code & Co. advises Expedition Growth Capital ahead of its $10M investment in Storykit, a video creator tool that enables everyone who can write text to create video
Founded in 2018, Storykit leverages the power of artificial intelligence to let its users turn text into video. The company boasts 600 customers and tens of thousands of users across the globe.
- Storykit is the leading video creator in the Nordics and has recently expanded into several European markets.
- Storykit lets any marketer or communicator leverage the power of video.
- Storykit addresses the rising demand for the creation of high quality video at record speeds.
Video is set to be the number one format for social channels in 2022 and beyond. That is why Storykit, which has seized on the universal corporate and departmental need to quickly produce highly professional video content that is brand aligned and cost effective, is focused on accelerating innovation and expansion.
Storykit mainly caters to large and medium-sized enterprises, including customers like Skandia, the City of Stockholm, and Lufthansa Systems. In the last twelve months, the company’s revenues have nearly doubled without outside investments.
Expedition Growth Capital was impressed by Storykit’s commitment to long-term growth and expansion and is delighted by the prospect of expanding its market leading product to even more markets and customer segments.
Code & Co. advised Expedition Growth Capital ahead of its substantial investment in Storykit. Our report included a detailed assessment of Storykit’s architecture and infrastructure as well as the alignment of the company’s goals with its global growth strategy.
This Tech & Product Due Diligence is the latest example of why clients across Europe rely on Code & Co. as an established technology and product advisor when it comes to tech acquisitions.