Virtual and hybrid events have become more relevant than ever before in the corporate communication ecosystem. The ETH spinoff and Wyss Zurich company, Seervision, leverages this opportunity to offer its software for video production automation. Its solution allows video operators to streamline the production workflow while benefiting from multi-camera person tracking. In the past months, due to the current crisis, Seervision’s software became the high-end video production option for diverse virtual events, a market expected to grow at a compound annual growth rate of 23.2% and exceed USD 400 billion by 2027.
This rising trend made 2020 a busy year for the start-up. “The upsurge of virtual and hybrid events has helped us fill our funnel with corporate clients and develop new features,” said Nikos Kariotoglou, co-founder and CEO of Seervision. The company ran more than 20 different technology co-development projects, product & user research, marketing, and pilot productions for prospective clients. Towards the end of the year, Seervision was able to add a new big client in Switzerland working together with Lang Baranday and with Kilchenmann. Overall, the company has deployed more than 35 systems and has more than ten paying clients worldwide.
Seervision has grown to become a global player in just less than four years, having shipped systems to clients in the U.S, Africa and Asia. The company is currently signing distribution agreements with local partners to represent it and scale.
Seervision’s financial history accounts for its smooth progression. Since 2016, the company has raised CHF 3 million in equity financing, including a seed round and funding from Wyss Zurich, where it is currently incubated. Additionally, the company obtained non-dilutive grants amounting to approximately CHF 3.5 million, including the three recent EU H2020 projects, announced in September last year. The next financing round is already underway. The proceeds from the round will help the company transition to the fast growth stage.
Following the completion of the Innosuisse coaching program, Seervision has obtained the Innosuisse certificate, which verifies that the company is ready for sustainable growth. “We started the Innosuisse core coaching in 2016. It was a remarkable journey where we grew from two people in a room to a company with over 20 full-time employees, paying clients and ever-growing responsibilities. To conclude this process successfully, and be deemed a company ready for sustainable growth, is a great milestone. A special thank you goes to our Innosuisse lead coach Marco Cavadini for working with us in the early days and helping us find the right direction,” adds Nikos.
Over the next months, Seervision will focus on boosting its growth and increasing sales. In line with this mission, the company has welcomed Roman Schweizer as Chief Revenue Officer who joined the company full time at the beginning of January 2021.