Phyron, a Swedish video tech company that uses artificial intelligence to produce automated videos for the auto industry, today announced they are opening a new office in Toronto as part of a strategic expansion into North America.
The new team will help Phyron work to build relationships with automotive dealers and OEMs in Canada and the United States. “Thanks to the unprecedented level of enquiries from OEMs and dealerships across North America we have brought forward our plans to establish an office in Toronto Canada and build a team there,” said Phyron CEO Johan Sundstrand.
Phyron’s video and AI solution automates video production and distribution from still photos, and its AI software and algorithms enable the creation of videos for advertisements for OEM brand or retailer websites, as well as classified ads and across social media channels. Phyron has been working with over 1,000 European customers since 2019. In the last 15 months, its customers’ car videos were viewed more than 234 million times.
Colin Richardson is in the Phyron North American Business Development office, and he says, “I’m delighted to be joining Phyron at such an exciting point in their growth trajectory. With over 25-years experience working in the North American automotive retail sector I’m confident we can offer Phyron’s innovative automated videos to transform the way the sector currently markets vehicles”.
Automated videos save retailers significant time and money on video production. The company’s research has shown that cars advertised with Phyron automated videos sold 3-5 days quicker than those without.