Mirage raises $75M to continue building models for its AI video editing app Captions

Mirage, the shaper of video editing app Captions, has raised $75 cardinal successful maturation financing from General Catalyst’s Customer Value Fund (CVF).

Over the past year, the startup has made important changes some to its merchandise and firm identity. The startup rebranded from Captions to Mirage to presumption itself arsenic an AI laboratory that produces antithetic models and besides caters to industries similar advertizing and marketing. It has besides trained a model specifically for pacing, framing and attraction dynamics successful abbreviated videos.

The institution besides switched to a freemium exemplary successful January 2025 to amended vie with apps similar ByteDance’s CapCut and Meta’s Edits, which was released aboriginal successful the year. It present offers a video instauration suite arsenic well, with immoderate of the features from Captions, that lets companies make and administer videos successful bulk.

Mirage’s co-founder and CEO Gaurav Misra said that the institution aims to make much models. However, helium didn’t specify what its adjacent acceptable of models would do, lone saying that they would beryllium focused connected “assembly intelligence” — fundamentally putting unneurotic a video utilizing antithetic sources and components.

Speaking astir Mirage’s caller audio model, which it claims tin sphere accents successful generated videos, Misra said, “The crushed for the audio exemplary was that we noticed that determination was a spread successful accents due to the fact that a batch of our users are international. Accents are conscionable precise important. There was my ain dad’s example. He was trying to usage the app, and helium would accidental a connection successful an Indian accent, and it would ever marque it dependable similar he’s talking successful an American accent.”

According to information from analytics steadfast AppFigures, Captions person been downloaded implicit 3.2 cardinal times successful the past 365 days and has brought successful $28.4 cardinal successful in-app revenue. Misra said the level has been utilized to make much than 200 cardinal videos truthful far, and that it has attracted an planetary idiosyncratic base, with lone 25% of its gross coming from the U.S.

Currently, Mirage’s selling suite is disposable connected the web, and Captions mostly offers a mobile-first editing suite. The institution aims to merge these 2 platforms to amended people tiny businesses that whitethorn beryllium looking to make selling videos.

Pranav Singhvi, managing manager of General Catalyst’s CVF fund, said Mirage has large product-market fit.,

“Mirage’s concern equation is highly figured out. They cognize precisely however to walk that dollar and make a precise charismatic ROI. If you deliberation astir the marketplace they’re going after, it’s successful a consciousness an infinite full addressable market. You tin commencement retired successful the creator world, the influencer world, and past usage that arsenic a mechanics to merchantability to enterprises arsenic well,” Singhvi told TechCrunch.

There are tons of companies gathering AI video-generation pipelines for marketing. Canva has introduced several tools astir selling instauration and tracking, portion platforms similar D-ID, HeyGen, Webflow, and Avataar person been releasing caller models and features.

However, Singhvi seems assured astir Mirage’s positioning and portion economics. “Regardless of what the different tools are retired there, Mirage is intelligibly up of the battalion from a portion economics standpoint. Ultimately, it’s each a reflection of their product,” helium said.

Mirage aims to usage the caller superior to substance growth, and grow successful high-growth Asian markets.