- Captions secures $60 million in series C funding led by Index Ventures.
- Funding to enhance AI-powered video editing platform in NYC.
- Includes investments from Adobe Ventures, HubSpot Ventures, and angel investor Jared Leto.
- Total valuation reaches $500 million with $100 million in cumulative funding.
- Plans to expand machine learning team and research efforts in New York.
- Innovations include AI Creator for video avatars and AI Edit for streamlined editing.
- Platform supports 10 million app downloads and integrates across web and Apple devices.
Main AI News:
Captions, an AI-powered video editing platform, has secured $60 million in series C funding to bolster its research efforts in New York City. Founded in 2021, the startup developed a sophisticated AI-driven creative studio enabling users to intuitively create and refine video content using advanced tools.
Leading the funding round is Index Ventures, supported by Adobe Ventures and HubSpot Ventures, alongside previous investors Kleiner Perkins, Andreessen Horowitz, and Sequoia Capital. Notably, Academy Award-winning actor and musician Jared Leto contributed as an angel investor, boosting Captions’ valuation to $500 million.
With this latest infusion, the startup has amassed a total of $100 million in capital. The funds will primarily fuel the expansion of its machine learning team and enhance research initiatives in New York City.
“We are committed to investing $100 million in advancing generative video research from New York City,” announced Gaurav Misra, Co-founder and CEO of Captions. “New York is rapidly emerging as a hub for AI innovation, and we are eager to grow our team here, advancing our mission to democratize video creation. Our goal is to empower individuals to share their stories and ideas effectively. We are grateful for the ongoing support from our investors and community and excited for what lies ahead.”
Captions’ AI-powered platform enables seamless video content creation without requiring prior editing expertise. The creative studio equips users with professional-grade tools, including captioning, voice dubbing, and automated subtitle addition. It also features an AI-driven ad generator capable of producing marketing videos in over 20 languages, each up to 60 seconds long.
Moreover, the platform recently introduced several enhancements, such as AI Creator, allowing users to craft videos with AI avatars, and #AI Edit, which simplifies comprehensive video editing with just a few clicks.
Already boasting 10 million downloads for its mobile app and accessible via web browsers and Apple products, Captions continues to innovate in response to the surging demand for short-form video content.
“Short-form video has become the predominant content format, and Captions is uniquely positioned to redefine how businesses create and engage through high-quality video,” remarked Brandon Greer, Head of HubSpot Ventures. “We are enthusiastic about supporting Captions as they empower businesses of all scales to produce compelling video content faster than ever before.”
The landscape of AI-driven video creation and generation is gaining traction rapidly, evidenced by recent advancements such as OpenAI’s Sora video generation model and the integration of AI video tools by industry players like VisionWorks Studios and DNEG Group’s Brahma.
Conclusion:
Captions’ significant funding round and strategic focus on AI-driven video editing technologies position it to capitalize on the growing demand for intuitive, high-quality video content creation tools. With expanded capabilities and a robust investor backing, Captions is poised to further innovate in the competitive market of AI video editing, potentially setting new standards for efficiency and accessibility in content creation.
