Boston-based content marketing platform Skyword announced Monday it has acquired New York City-based video production and animation marketplace Vidaao. Although the financial terms of the deal were not disclosed, Skyword did disclose it has secured an additional $11 million in growth financing from the Cox Media Group.
The financing will be used to foster Skyword's growth and expand the company's product and service offerings, as well as build out the Web content marketer's partner ecosystem.
"We believe that Skyword has captured a prime position in the content marketing space to capitalize on the explosive growth occurring within it," said Neil Johnston, executive vice president of strategy and digital innovation at Cox Media, in a statement. "With its powerful combination of enterprise-class technology, authentic voices and professional services, Skyword stands out from its competitors and inspires deeper connections between brands and their customers."
Skyword most recently announced the opening of a West Coast office, a product of its acqui-hire of Palo Alto-based Clear Content Marketing. With the Vidaao acquisition, Skyword will also be opening an office in New York City sometime soon, as well as start offering video marketing to its existing and future clients.
"When marketers tell stories, they want to connect emotionally with their customers and prospects," said Skyword CEO Tom Gerace in a statement. "Video can create a strong connection with viewers, like few other media can."
More than 95 percent of marketers are using video as part of their digital strategies, according to Skyword. What Vidaao has been able to capitalize on, however, is its ability to walk brands from the beginning, ideation phase to the final production phase all within a single platform.
"You can no longer separate video marketing from content marketing, and with the combination of Vidaao and Skyword, there isn't a more complete content marketing solution in the market," claimed Vidaao CEO Justin Park, who added his team is "incredibly excited" to join Skyword.
Since its founding in late 2010, Skyword has gone on to raise $25.5 million.
Logo via Skyword
