Capitalizing on a successful past few months, Viddy has launched a public API that will allow developers to use the social video service within third-party apps, the company announced today.

Viddy produces an iPhone application for shooting 15-second clips that can be enhanced with video effects called “production packs.” The startup reported massive growth back in May that brings the total number of registered users to more than 27 million, as VentureBeat previously reported. The company, which launched less than a year ago, has a star-studded list of celebrity investors, including Biz Stone, Shakira, Will Smith, and Jay-Z. But the service also has its share of notable users, such as Rihanna, Snoop Dogg, Katie Couric, Mark Zuckerberg, and an often shirtless Justin Bieber.

In addition to the API, Viddy is launching a contest that gives developers a chance to win $10,000 and an interview with Viddy for permanent employment. To gain access to the API, developers need to contact Viddy via the new developer portal.

Some have speculated that Viddy has a good chance at dethroning YouTube as the king of user-generated video, and this very well could be the case for smaller scale clips. YouTube is currently focused on the bigger picture, which includes enhancing the site’s content to the caliber found on cable television. So Viddy, especially with its new API, certainly has an opportunity to become a powerful force if it continues growing.

Founded in 2011, the Venice, Calif.-based startup has previously raised a total of $36 million in funding from Battery Ventures, Qualcomm Ventures, Greycroft Partners, and others.