Animoto’s patented Cinematic AI technology makes it easy for anyone to turn photos, screen recordings, and short clips into powerful, professional videos.
Redbrick set its sights on a $100 million revenue goal back in 2019. With the addition of Animoto, the B.C. tech company will be surpassing that achievement and reaching an international headcount of 200 employees.
Over the last 16 years, Animoto has helped businesses, entrepreneurs, and enthusiasts create videos through intuitive drag-and-drop software. The platform supports over 70,000 customers and millions of users breaking into video marketing and forging brand connections through engaging high-quality content.
“By acquiring Animoto, we’re making Redbrick’s portfolio stronger and more diverse,” said Tobyn Sowden, CEO of Redbrick.
“This acquisition means we’ve reached $100M in annualized revenue and 200 team members. Animoto’s role in Redbrick is really important as it allows digital entrepreneurs to tap into the power of video which is the fastest-growing way to reach people online.”
Animoto is Redbrick’s third major acquisition in the past four years and the company’s latest move to expand its portfolio with software that supports digital entrepreneurship.
Since being founded in 2011, Redbrick has built, acquired, and scaled portfolio companies including a marketing automation platform, a no-code website-builder and lead-generation platform, as well as productivity tools.