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Exclusive: Video platform Greenfly raises $14M for global expansion

Illustration of a hand holding a cell phone displaying a $100 bill on the screen surrounded by social media icons.

Illustration: Gabriella Turrisi/Axios

Short-form video platform Greenfly has raised $14 million to bolster its international expansion, CEO Daniel Kirschner tells Axios.

Why it matters: The increasing importance of video content has created a need for companies to distribute it more efficiently.

How it works: Greenfly sells content management software to media companies, sports teams, and leagues to organize and distribute short-form videos.

  • Greenfly goes beyond a social media manager posting a video on Instagram. "That doesn't build long-term value. ... You can't package and sell that," Kirschner says.
  • Greenfly's clients include MLB, ESPN and the NHL.

Zoom in: ADvantage led the funding round, with additional new investors including Ryan Sports Ventures, Mercato Partners and the NBA, through its investment arm, NBA Equity.

  • Existing investors Verance Capital, Iconica Partners, Alpha Edison and Elysian Park also participated.
  • Greenfly has raised just over $40 million in total.

What's next: Greenfly is planning an international push in 2024.

  • The company has some overseas clients like Paris Saint-Germain and Real Madrid.

Catch up quick: In the last year, Greenfly has added 40 new clients and hired a CFO and CRO.

  • In July, the company acquired Miro AI — its first acquisition — an AI-powered content as a service (CaaS) platform.

Fun fact: Kirschner and former MLB outfielder Shawn Green founded Greenfly in 2014.

  • NBA star Chris Paul is also an investor.
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