YFM supports fast-growing disruptive global video agency Wooshii
Investors in this round: YFM Equity Partners’ (YFM) managed funds
UK-based agency Wooshii, which provides video content and software tools for blue-chip companies around the world, has received additional investment from YFM Equity Partners’ (YFM) managed funds to support its continued growth trajectory and further technology investment.
Founded by CEO, Fergus Dyer-Smith, over the last 10 years, Wooshii has reinvented the video production offering by giving clients the convenience and quality of a traditional production service with the additional benefits of a decentralised, global creative network, connected and enhanced by proprietary technology. This enables the business to provide clients with a video content management solution that scales with their needs, delivers international reach and makes video production faster and more transparent.
Headquartered in London servicing EMEA, with a 15-strong team in LA servicing the North American and APAC markets, and a centralised state-of-the-art post production studio in the North East; Wooshii has built up an impressive client base including Amazon, Booking.com, Thermo Fisher and Park Hyatt. It currently works with around 16,500 creators across 132 countries.
The business was first backed by YFM in 2019 with a £3.6m investment and the PE house is now making a further multi-million pound investment from its BSC, BSC2 and Growth Fund II funds. The latest seven-figure investment grows YFM’s stake in the firm and provides further growth capital for the company.
The latest investment will enable Wooshii to build-out its sales and account management teams in order to grow and enhance relationships with key customers. It will also allow the further development of a suite of proprietary video asset management software tools which will further enhance customer relationships and drive value over coming years.
Fergus Dyer-Smith, CEO of Wooshii, said: “The massive growth in video production over the last ten years saw an even greater acceleration in 2020 as businesses worldwide turned to online marketing with video being recognised as one of the most powerful communication tools. With lots of companies wanting to grow their output, Wooshii offers the benefits of a global network of production agencies and freelancers, able to make videos anywhere in the world, combined with sophisticated technology to connect that network with us and our customers. In addition to creating content, we also have the expertise to manage the process of running video operations and even to help evaluate a company’s video assets and so help them make the most of their content.
“We’ve seen demand from clients to scale-out their video operations growing much faster than anticipated, and with the package of technology solutions we’ve developed, Wooshii is in a great position to help. We’re pleased that YFM is continuing this journey with us; they’ve proved to be a truly supportive partner which was particularly put to the test during the disruption of the first lockdown when they stood firm behind their portfolio businesses. In fact, 2020 was another year of growth for us, YFM have been there if we needed them and are happy to back us to optimise the new opportunities we have identified.”
Jonathan Simm, partner at YFM, added: “Wooshii has proved to be resilient, performing strongly last year, and this latest investment will enable the company to expand its team and continue its cutting-edge in-house development work. The company offers a number of innovative, proprietary products including tools for sharing video files and remote production. It is also building a platform to allow corporates to consolidate all of their video assets centrally in a single system, giving visibility and enabling them to extract more value. We believe the business and the market has huge potential, and Wooshii is on track to reach its target of £6m turnover this year.”
YFM Equity Partners has been investing in growing businesses in the UK since 1982, with a focus on helping them to scale. The YFM team comprised Jonathan Simm and Victor Christou. Other advisers on the deal included Poppy Wilkinson and Tom Durrant of Gateley who advised YFM; and Brabners who advised Wooshii.