Captions Raises $60 Million in Series C Funding to Advance Generative Video Technology
Captions, a leading generative video creation and editing platform, has raised $60 million in Series C funding. The company plans to use this funding to grow their machine learning team, invest in inhouse research efforts, and enhance technical infrastructure to further pioneer breakthroughs in video technology.
The funding round was led by Index Ventures, with participation from returning investors Kleiner Perkins, Andreessen Horowitz, and Sequoia Capital. New investors in this round include Adobe Ventures, HubSpot Ventures, and Jared Leto. Captions has now raised a total of $100 million, valuing the company at $500 million.
Captions has recently launched innovative generative technology such as AI Creator, AI Edit, and Lipdub, leading to rapid growth with over 10 million downloads on mobile platforms. The companys mission is to democratize video creation, allowing anyone to effectively share their stories or ideas.
Gaurav Misra, the cofounder and CEO of Captions, expressed excitement about investing in generative video research from their base in New York City, emphasizing the citys emergence as an AI hub. Damir Becirovic from Index Ventures praised Captions for enabling a higher dimension of storytelling via AIenabled video creation, while Everett Randle from Kleiner Perkins commended the companys ability to ship innovative products quickly.
The companys AI Creator tool, which generates studiograde videos with minimal user input, has already garnered attention in various content segments including social posts and advertisements. Brandon Greer from HubSpot Ventures highlighted Captions potential in transforming how marketers create videos and engage with customers.
Overall, the funding will support Captions in expanding their team, enhancing research capabilities, and driving continued innovation in generative video technology.
