NBA Expands Investment in Social Media Analytics Firm Videocites
NBA is using Videocites to provide insights into league’s social media exposure following initial closing of series-B Funding led by Velocity Capital Management
TEL AVIV—Videocites has announced the initial closing of a Series B round led by Velocity Capital Management (“Velocity”) with additional investments by Series A investor Infront Sports & Media AG, and NBA Equity.
With offices around the globe, including one newly opened in New York, Videocites offers a next-generation solution for analyzing social media that the NBA is now using to provide insights into its global reach and brand exposure across social media content.
While user-generated content (UGC) has a significant influence on a brand's perception and popularity across social media, it’s challenging to identify and categorize at scale, Videocites noted. To address that issue, Videocites has developed an AI-generated identification capabilities and video-fingerprinting technology to recognize and analyze UGC and trademarked assets related to the brand.
“We’re excited to collaborate with Videocites to better understand how user-generated content resonates with our fans,” said David Lee, head of NBA Equity. “This partnership and our investment in Videocites reflect our commitment to continue to grow and embrace our fans across the ever-evolving global social media landscape.”
“Aggregating and analyzing real-time UGC and brand video data in one dashboard allows our clients to keep their finger on the pulse of their fanbase and partners,” said Eyal Arad, Videocites’ Co-Founder, and CEO. “It’s no secret that today’s user habits across social media have a significant impact on shaping public perception of any organization. We are turning that ‘perception’ into quantifiable data.”
“We believe that Videocites can become the industry standard for tracking and measuring intellectual property across social media. Videocites’ technology greatly enhances monetization opportunities for rightsholders and creates a platform for streamlined direct-to-consumer engagement,” said Velocity managing partner David Abrams.
Velocity is a sports, media, and entertainment domain-focused private equity firm founded in 2021 by Abrams and Arne Rees.
Videocites will use the funding to grow its global presence and recruit leading sales and business development professionals to expand its unique offerings in the United States and Europe.
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George Winslow is the senior content producer for TV Tech. He has written about the television, media and technology industries for nearly 30 years for such publications as Broadcasting & Cable, Multichannel News and TV Tech. Over the years, he has edited a number of magazines, including Multichannel News International and World Screen, and moderated panels at such major industry events as NAB and MIP TV. He has published two books and dozens of encyclopedia articles on such subjects as the media, New York City history and economics.