Unlocking the power of video for business, Hamburg-based software startup cofenster has just received €8 million. The funding was led by Signals Venture Capital with existing investor Capnamic also getting involved, as well as a number of well-known entrepreneurs participating as angel investors.
Founded in 2020 by Tom Vollmer, Oliver Wegner and Finn Frotscher, cofenster helps large and medium-sized companies to find new ways to communicate with their teams. In the age of the home office and hybrid work, it’s perhaps more important than ever to find new and innovative ways to connect between teams, in order to strengthen employee engagement and promote long-term employee engagement. Cofenster’s software offers a solution that reflects three core trends in business in 2022 – the need to improve communications for remote teams, the increased popularity of video and the need for a more ‘friendly’ team culture.
Cofenster’s software solution has radically simplified the creation and publication of professional videos, and, as a result, every employee can create a pro-level video in no time at all. It’s part of the company’s vision to make video the central instrument of corporate communication, to bring more empathy into everyday work.
Tom Vollmer, CEO & Co-Founder of cofenster explained: “We are turning video into the central instrument of corporate communications and are thus forever changing how companies communicate: We strengthen empathy at work. This paradigm shift from text to video has made its way into the corporate world. Last year’s rapid growth is a testament to this.”
Through the tech offering, managers, team leaders, and employees can easily and quickly create video messages to bring more authenticity to internal communications. The planning, creation and sharing of videos strengthens employee engagement, creates a positive connection to daily work life, and reinforces teamwork and corporate culture.
Video is the connectivity mode of choice at the moment for marketing, but many companies still have concerns about this format when it comes to communications in other departments. Video is also still associated with high production costs, high effort levels and, the need for specialist knowledge. Cofenster is changing this perspective.
Oliver Wegner, co-founder and CPO commented: “If you go with cofenster, you don’t need any previous experience in video editing. With cofenster, anyone from a 16-year-old intern to a 65-year-old CEO can create a professional video in no time because we have simplified and automated all the key tasks in video management: from recording, to editing, to automatically adding CI-compliant text modules, royalty-free music and subtitles. What’s more, our software is easy to use: with us, even teams that work decentrally can create a video together.”
Since the pandemic, long-term employee retention and internal engagement have become increasingly important, as one sad truth has become clear – companies are losing touch with their employees. Corporate communication needs a fresh new strategy to boost engagement amongst teams. It’s also been proven time and time again that better engagement means higher productivity, lower turnover, and better outcomes for employers and employees alike.
Christian Knott, Managing Partner at Capnamic said: “Today more than ever, companies need to address how to attract and retain employees through simple, authentic information flow, good communication and a high level of transparency. In this way, cofenster promotes an effective dialogue within companies.”
Within just a few months of launch, cofenster was able to attract plenty of attention for its innovative solution, including global players such as Allianz, Microsoft and Accenture. The new funding will be used to help the young startup on its mission to make video the leading corporate communication tool.
Christian Weniger, Managing Partner at Signals Venture Capital, added: “Communication via video is pushing into the corporate world. On the one hand, this is due to the new normal of hybrid working. But on the other hand, it is also due to the entry of Gen Z into professional life, who primarily communicates via video.”