The Round Builds on Oneday’s Accelerated Momentum Over the Past 18 Months, Propelling the Startup to a High-Growth Video Technology Company Across Multiple Industries.
OneDay, a Texas-based software-as-a-service (SaaS) company that empowers businesses to drive revenue growth and customer engagement using video storytelling technology, announced the closing of its $19 million Series B funding round. The round was led by Volition Capital, a Boston-based growth equity firm that invests in high-growth, founder-owned companies across the software, Internet, and consumer sectors. Silverton Partners, who led OneDay’s Series A round, also participated in this round. The investment will be used to accelerate OneDay’s growth with key hires, market expansion, and continued investment in building best-in-class technology to empower businesses to leverage video to drive growth and engagement. OneDay’s total capital raised to date is $25 million.
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“There is a significant growth opportunity for video platforms that increase real estate occupancy rates and improve resident experiences,” said Sean Cantwell, Managing Partner at Volition Capital. “OneDay’s self-serve video platform, market validation in senior living, and ambitious executive team have enabled it to build a strong brand and dominant market share across key categories. We see OneDay strengthening its leadership position with a continued trend towards the use of personalized video content for tenant sales and engagement.”
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OneDay creates value for businesses in multiple industries by streamlining the video content creation process. Within seconds, OneDay’s SaaS platform captures and distributes high-quality videos that personalize the sales process, enhance marketing capabilities, and increase engagement – ultimately driving revenue for their customers. The company’s flagship product, OneDay for Senior Living, launched in 2017, allowing senior living communities to digitally record and preserve senior living residents’ life stories and increase occupancy. By addressing a growing market need for an easy video storytelling platform, OneDay has built a fast-growing SaaS video technology company and expanded its platform into the multi-family and funeral industries.
“We know there’s a massive business opportunity for video storytelling across the markets we currently serve. In addition to marketing and sales, our products are being used to foster resident engagement, fuel employee hiring and retention, and strengthen human connection using video,” said Clint Lee, Co-founder and CEO of OneDay. “Working closely in the senior living industry for over four years, we’ve seen the power of video storytelling and its impact on businesses and the lives they serve. With this new partnership with Volition Capital, we will continue to build and scale our innovative technology so more businesses and individuals can leverage video to drive results in their business.”
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Video Storytelling is a Significant Market Opportunity
Video adoption has accelerated in sales and marketing, and according to recent research, 92% of video marketers feel the level of noise and competition have increased in the last year. Of those, 47% said video was made necessary by new challenges, including the pandemic. With video continuing to be a necessity in marketing, OneDay’s platform can not only easily and quickly capture video content but also provide the personalization that cuts through the noise. The market opportunity for OneDay is poised to continue growing as the company has remained ahead of the competition, honing its video storytelling capabilities and technology to enable businesses to easily leverage video.
Scalable Across Many Industries
In a recent study, 86% of businesses use video as a marketing tool. OneDay’s video storytelling platform addresses this large market for video content across multiple industries. After the success of OneDay in senior living, OneDay has expanded to other giant industries, such as multifamily. In June 2021, OneDay unveiled Convey by OneDay, a property technology video platform built for multifamily leasing agents that personalizes the sales process through high-quality videos to quickly connect with prospective and current residents, showcase communities, and shorten sales cycles. OneDay aims to mirror their success in senior living and apply what they’ve learned to transform the multifamily industry with their one-of-a-kind video solution and become the video leader in this space.
Additionally, in June 2020, OneDay launched Reflect by OneDay, designed for the funeral home industry to help family and friends digitally collect memories and stories into a personal video documentary of a loved one’s life.
Building a Strong and Reputable Brand in Senior Living
As the senior living industry has rapidly changed over the past few years, OneDay for Senior Living has continued to provide partners with a powerful way to create human connections with potential residents, while also keeping families closely connected to their loved ones. Having served the senior living industry since 2017, OneDay was already widely embraced as the video leader and positioned to reach even more communities. As a result, since 2020, OneDay’s customer base has increased more than 150 percent, and the company has partnered now with nearly 5,000 communities across the U.S., U.K., and Canada.
To continue transforming human connection for their partner communities, the company rolled out this year a completely revamped iteration and refreshed experience of their platform for senior living. OneDay for Senior Living 4.0 is built on the foundation of OneDay’s best-in-class product and features product enhancements that help drive more move-ins, increase revenue, and grow resident engagement.
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