Mirage Raises $75m To Continue Building Models For Its Ai Video Editing App Captions

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

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

The institution besides switched to a freemium exemplary successful January 2025 to amended compete pinch apps for illustration ByteDance’s CapCut and Meta’s Edits, which was released later successful nan year. It now offers a video creation suite arsenic well, pinch immoderate of nan features from Captions, that lets companies create and administer videos successful bulk.

Mirage’s co-founder and CEO Gaurav Misra said that nan institution intends to create much models. However, he didn’t specify what its adjacent group of models would do, only saying that they would beryllium focused connected “assembly intelligence” — fundamentally putting together a video utilizing different sources and components.

Speaking astir Mirage’s caller audio model, which it claims tin sphere accents successful generated videos, Misra said, “The logic for nan audio exemplary was that we noticed that location was a spread successful accents because a batch of our users are international. Accents are conscionable very important. There was my ain dad’s example. He was trying to usage nan app, and he would opportunity a connection successful an Indian accent, and it would ever make it sound for illustration he’s talking successful an American accent.”

According to information from analytics patient AppFigures, Captions person been downloaded complete 3.2 cardinal times successful nan past 365 days and has brought successful $28.4 cardinal successful in-app revenue. Misra said nan level has been utilized to create much than 200 cardinal videos truthful far, and that it has attracted an world personification base, pinch only 25% of its gross coming from nan U.S.

Currently, Mirage’s trading suite is disposable connected nan web, and Captions mostly offers a mobile-first editing suite. The institution intends to merge these 2 platforms to amended target mini businesses that whitethorn beryllium looking to create trading videos.

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

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

There are tons of companies building AI video-generation pipelines for marketing. Canva has introduced several devices astir trading creation and tracking, while platforms for illustration 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 nan different devices are retired there, Mirage is intelligibly up of nan battalion from a portion economics standpoint. Ultimately, it’s each a reflection of their product,” he said.

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