AI Video Editing Company Secures $60M Funding to Boost Research Initiatives in New York

Captions, an innovative AI-powered video editing platform, has successfully secured $60 million in Series C funding to enhance its research initiatives based in New York City. Established in 2021, this startup has crafted a cutting-edge creative studio that empowers users to intuitively create and edit video content through advanced AI tools.

This latest investment round, spearheaded by Index Ventures, saw participation from notable investors including Adobe Ventures, HubSpot Ventures, and prior backers like Kleiner Perkins, Andreessen Horowitz, and Sequoia Capital. Among the angel investors is Academy Award-winning actor and musician Jared Leto, contributing to Captions’ impressive valuation of $500 million. With the total funding now reaching $100 million, Captions aims to strengthen its machine learning team and expand its research efforts within New York.

Gaurav Misra, co-founder and CEO of Captions, expressed enthusiasm about the funding, stating, “We’re thrilled to announce our commitment to invest $100 million into pioneering generative video research right from New York City. As the city establishes itself as a hub for AI innovation, we look forward to growing our team and advancing our mission to democratize video creation, enabling everyone to share their stories and ideas with ease. We deeply appreciate the ongoing support from our investors and community and are eager to embark on this next phase of growth.”

Captions’ platform is designed to simplify video production, making it accessible to individuals without prior editing knowledge. The intuitive creative studio allows users to generate professional-quality video content, complete with advanced features such as automated captioning, voice dubbing, and AI-driven corrections for improved eye contact. Additionally, Captions offers an efficient ad generator capable of producing video advertisements up to 60 seconds long in over 20 languages, catering to diverse marketing needs.

Notably, the platform does not impose watermarks on the content it generates, enhancing its appeal for business users. Recent innovations include the AI Creator feature, which enables users to craft videos featuring AI avatars, and #AI Edit, a tool that allows for comprehensive video editing with minimal clicks. The new AI avatar functionality is already being leveraged by both small and established businesses for creating social media content and advertisements.

With a mobile app boasting 10 million downloads, Captions is accessible through web browsers and Apple devices, catering to a wide audience. Brandon Greer, head of HubSpot Ventures, highlighted the platform's potential, stating, “Short-form video has taken precedence in content creation, and Captions is poised to revolutionize how marketers produce engaging video content faster than ever.”

The momentum in the AI video generation market has notably accelerated, particularly following OpenAI's launch of its Sora video model earlier this year. Various companies are now offering AI video creation and visual effects tools to Hollywood studios, including VisionWorks Studios and DNEG Group’s Brahma. While Captions primarily concentrates on video editing, competitors like Runway and Stability AI are also exploring video generation capabilities within this rapidly evolving landscape.