Vienna/Stockholm, July 4th, 2023 – Round2 Capital adds Phyron to its portfolio, providing a revenue-based seven-figure investment. Phyron’s AI-based software enables automated generation of product videos, with a proven track record of delivering faster sales and reduced costs of content creation for customers. In a challenging environment for tech companies, Phyron will grow its revenue by three figures in 2023, and this new investment will accelerate development of its AI and automation technology, grow the team, and attract new customers.
Phyron’s AI-based video engine can create an unlimited number of studio quality videos from existing content in real-time. The easily implemented software renders, hosts, and streams all video files with no human input on all available channels – including websites, marketplaces, social media, and paid ads.
Since its foundation, Phyron has rapidly expanded beyond the Nordic countries and into the rest of Europe and North America. Now, more than 2,500 car dealers use Phyron across 25 countries. Since January 2021, Phyron’s videos have been viewed more than 250 million times. Ads using videos created with Phyron can receive on average over 50% more visits and cars are sold three to five days faster. All for less than the price of a cup of coffee per car.
What the involved parties say
Jan Hillered, Co-Founder & Managing Partner at Round2 Capital, commented on the investment: “Phyron’s development over the past years has been impressive and we believe that revenue-based financing is perfectly suited to deliver the funding they need to realize their ambitious expansion plans. We are excited to partner with the passionate and motivated team at Phyron as well as with the existing investors. Given sector dynamics and Phyron’s current development trajectory, we expect to see more opportunities to contribute towards Phyron’s financing needs as they continue to scale up.”
Johan Sundstrand, Co-Founder & CEO of Phyron, also expressed his enthusiasm: “Phyron is generating triple digit growth in 2023 and this new investment means we can keep on growing and launch new products faster, like our recently launched Paid Ads ‘always on’ platform, which allows dealers and OEMs to reach new audiences with full AI video automation. The new funding means that we can invest more in our AI technology and grow our team in core areas – all with a view of adding hundreds of new customers. We can also look forward to Round2’s backing in the future thanks to the revenue-based funding model we have with them.”
About Round2 Capital
Round2 Capital is a fast-growing European investment firm with EUR 135m under management. Based in Vienna, the firm is a strong partner for European scale-ups and companies with digital and sustainable business models. Since its founding in 2017, Round2 Capital has been pioneering revenue-based finance in Europe and is active in several European countries, with a focus on Germany, Switzerland, Austria, and the Nordic countries. To date, Round2 Capital has invested in 32 different software and technology scale-ups across 9 jurisdictions. Round2 Capital is backed by the European Investment Fund (EIF) to support technology companies in the European Union.
For more information about Round2 Capital, please visit: www.round2cap.com
Phyron was founded in Stockholm, Sweden in February 2019. The goal when Phyron launched in the automotive retail sector in late-2020 was to develop engaging video advertising solutions based on automation and AI technology that offer life-like presentations while making selling easier and more profitable for car dealers and OEMs around the world.
For more information about Phyron, please visit: www.phyron.com