When OneDay initially launched its video storytelling technology in 2017, it transformed the way people preserved their loved ones’ life stories. But the Dallas-based startup had unearthed a solution that actually had myriad applications—and today, the team is rapidly iterating to meet the needs of various industries, with growth that has no signs of slowing down.
Already in 2021, OneDay launched its multifamily proptech division in May and its revamped senior living platform in June. That comes on the heels of launching its first SaaS product for the funeral home industry last year.
The team told Dallas Innovates the growth will only continue—they have more expansion plans on the horizon.
To fuel the recent rapid growth and further prove the use cases of its tech, OneDay closed on a Series B funding round of $19 million today. Led by Boston-based Volition Capital—a growth equity firm that focuses on high-growth, founder-owned companies in the software, Internet, and consumer spaces—the investment will back OneDay’s mission to empower businesses to leverage video and drive revenue growth and customer engagement.
The capital will primarily go toward key hires, market expansion, and continued tech development. Currently OneDay has 41 employees, and wants to have 60 by the end of the year.
They’ll be housed in a 10,000-square-foot office space in the Design District that OneDay recently deemed its new HQ.
“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,” Clint Lee, co-founder and CEO of OneDay, said in a statement. “With this new partnership with Volition Capital, we’ll continue to build and scale our innovative technology so more businesses and individuals can leverage video to drive results in their business.”
OneDay’s funding history
The Series B comes just a year after OneDay’s Series A round of $5.2 million. At the time, Lee said the money would go toward sales and marketing.
Austin-based Silverton Partners led the Series A investment, and also participated in the Series B round.
To date, OneDay has raised a total of $25 million in 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,” Sean Cantwell, managing partner at Volition Capital, said in a statement. “We see OneDay strengthening its leadership position with a continued trend towards the use of personalized video content for tenant sales and engagement.”
Casting a wide net
Founded in 2012, OneDay provides video storytelling for senior living residents and their families to help capture and share the stories of loved ones. Its first SaaS product leveraged first-of-its-kind technology so senior living communities could digitally record and preserve the stories of residents.
But a recent study shows that 86 percent of businesses use video as a marketing tool. Add to that the statistic that 92 percent of video marketers “feel the level of noise and competition have increased in the last year.”
Lee and his team noticed a market need for an easy-to-use storytelling platform, and, given the success of their flagship product, took what they do best to pivot into a fast-growing SaaS video technology company that was applicable across industries.
First came Reflect by OneDay. The pivotal product collects digital memories from family and friends and stitches them together into a crowdsourced video documentary of a loved one’s life. It can all be completed via a mobile app, making for an especially relevant service during the social distancing era brought on by the COVID-19 pandemic.
OneDay hopes the tech will be a helpful offering for funeral homes and the approximately 2.4 million funerals held every year in the U.S. Described as a “keepsake that can be treasured forever,” Reflect by OneDay brings personalization to ceremonies or celebrations of life with the creation of a meaningful reflection.
Following that was Convey by OneDay, a property technology platform that personalizes the multifamily real estate sales process.
Essentially, Convey by OneDay aims to convert prospects into residents. Each community has its own custom-built iteration of the platform, making for a personalized experience that mirrors OneDay’s own brand.
For instance: Leasing agents can record their own videos of a property to be used for prospect introductions, virtual tours, post-tour recaps, or to stay up-to-date throughout the sales process. Or, current residents can use the platform to promote a local event or send reminders about important upcoming due dates.
“We know there’s a massive business opportunity for video storytelling across the markets we currently serve,” Lee said. “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.”
At the heart of it all
Despite their growth, Lee stays true to why he co-founded OneDay in the first place.
The company is built on the desire to empower engagement through innovative video storytelling platforms that can capture and record high-quality video in seconds. With the video platform, Lee says he believes OneDay can transform countless industries and create a world where no one’s story goes untold.
A large part of that is personalization. OneDay aims to stay ahead of competition by using its capabilities to “cut through the noise” and create true value for businesses by streamlining the content creation process.
Meanwhile, OneDay for Senior Living has continually provided its partners with a powerful way to create human connections, despite the rapid changes in the industry over the past few years, they say.
The recently launched OneDay for Senior Living 4.0 features product enhancements to drive more move-ins, revenue, and resident engagement. Updates included personalized branded videos, extensive video templates, streamlined notifications, instant two-way messaging, and a centralized dashboard to help identify trends and uncover which videos are driving results.
Since 2020, OneDay says it has increased its customer base by more than 150 percent, partnering with some 5,000 communities across the U.S., U.K., and Canada.
From here, OneDay hopes to become the leader in the video space.
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