Dallas-based video firm OneDay is elevating $ 19 million in new cash to proceed growth
OneDay, a Dallas-based company that launched its video marketing platform in the senior housing industry, will use $ 19 million in new capital to expand into funeral home and multi-family leasing industries.
The new investment will be led by Volition Capital, a Boston private equity firm. The company previously raised $ 5.3 million in a 2019 funding round.
OneDay launched its core product, the OneDay for Senior Living platform, in 2017. The video marketing platform helps senior housing communities attract potential residents by providing video highlights of a property’s programs and amenities and collecting pre-recorded testimonials from residents. Customers can also use the platform to share videos about job vacancies or to get in touch with hiring candidates.
The software also has a question-and-answer feature that senior living communities can use to help residents and their families preserve stories and memories for future generations. Using prompts, the app asks a question, records residents’ responses, and automatically creates a high quality video that can then be shared with family members.
OneDay was born when co-founder and CEO Clint Lee, a graduate of the University of North Texas, and John Boaz, Lee’s stepfather and founder of OneDay, discovered their family had little video or audio after the death of Boaz’s grandfather, to remember him. Boaz came up with the idea of capturing memories and stories from residents of senior housing communities in order to preserve them for future generations. The two started a technology company in 2012 with the intent to preserve stories, but realized that the technology could have a wide range of uses.
“Our technology made it extremely easy to personalize the sales process in an industry that really needed it – to build human connections,” said Lee.
OneDay says it grew its customer base by more than 150% in 2020, bringing the total number of senior housing community partnerships to nearly 5,000 in the US, UK and Canada. It has also started expanding its video-based platforms to other industries in hopes of replicating its success in the senior living space.
Earlier this year, the company launched Convey by OneDay, a platform that enables apartment and condominium landlords to connect with potential tenants, give virtual tours and communicate with potential residents throughout the sales process. Convey replicates many of the same features of the senior housing platform and allows properties to add video to their marketing strategy to increase occupancy.
In June 2020, as the COVID-19 pandemic kept many personal funerals and memorial services in check, the company launched its Reflect platform, which collects videos from users through an app and creates “crowdsourced personal video documentation” that can be shared kept with friends and family or as a keepsake.
Renderings of OneDays Convey, Reflect and OneDay for senior living platforms.(Someday)
OneDay has 41 employees and plans to add 20 more by the end of the year to support the growth of the Convey and Reflect products. The company also doubled its office space and moved into a new 10,000 square meter office in the Design District in May.
“There is significant growth opportunity for video platforms that increase real estate occupancy and enhance the living experience,” said Sean Cantwell, managing partner at Volition Capital, in a statement. The company is focused on investing in founder-led companies with over 30 investments in US and Canadian companies and $ 1.1 billion in assets under management.
“OneDay’s self-service video platform, senior living market validation, and ambitious leadership team have enabled the company to build a strong brand and dominant market share in key categories,” said Cantwell. “We see OneDay strengthen its leadership position with an ongoing trend towards using personalized video content to sell and retain tenants.”