Redbrick acquires Animoto, the cloud-based video creation platform

Animoto, founded in 2006, used patented Cinematic AI technology to make it easy to turn photos, screen recordings, and short clips into powerful videos. The platform supports more than 70,000 customers and millions of users.

“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.”

Redbrick set its sights on a $100 million revenue goal back in 2019, the company said, andwith the addition of Animoto, the Canadian tech company will be surpassing that achievement and reaching an international headcount of 200 employees. This announcement also marks 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.

“We are thrilled to be joining Redbrick and embarking on this exciting new chapter,” said Brad Jefferson, CEO and co-founder of Animoto. “Working with Redbrick will open new doors for Animoto as we continue to grow, bringing even more innovative features to our customers. After 16 years as an independent company, Animoto and our customers have a lot to gain by being welcomed into the Redbrick family. This acquisition immediately boosts our ability to empower more individuals and small businesses with the most effective and compelling way to tell a story.”