US basketball league, NBA, invests in Videocites to scale content generation product

Videocites has announced closing the first round of a Series B funding, which was led by Velocity Capital Management, a New York City equity firm that focuses on sports, media, and entertainment.

This was contained in a press release forwarded to Ripples Nigeria.

The round, according to the company, was backed by Infront Sports & Media AG, a Series A investor, and NBA Equity, the NBA’s investment arm.

The development comes after Videocites opened a new office in New York with plans to expand its offerings to brands and content owners in Europe and the United States.

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Commenting on the development, David Lee, Head of NBA Equity, noted that Videocites’ partnership with the NBA was intended to provide the organization with a more in-depth understanding of its global reach and brand exposure across social media content generated by fans and media partners.

Videocites’ CEO, Eyal Arad, believes that aggregating and analyzing real-time user-generated content and brand video data on a single dashboard enables clients to stay connected with their fanbase and partners.

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