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Rephrase.ai, a generative AI startup that goals to humanize communication by artificial media, has raised $10.6 million in Series A funding spherical led by Red Ventures, a worldwide firm with a various portfolio of manufacturers and companies targeted on providing premium content material and customized digital experiences. Silver Lake, the worldwide chief in expertise investing and an investor in Red Ventures, additionally participated within the spherical, along with 8VC and different buyers. This fund raised will enable the corporate to boost its capabilities by integrating product experiences, scaling hiring throughout the enterprise, together with throughout the engineering, AI, product, gross sales, and advertising and marketing groups, and increasing its presence in North America.
“We started Rephrase.ai four years ago with the goal of building an engine that can make creating professional quality videos as easy as writing text. In the last year, we’ve developed hundreds of digital human clones, creating millions of videos during the process. I’m thrilled to welcome Red Ventures, Silver Lake, and 8VC as partners on this journey to help expedite the world’s adoption of generative AI videos. Given their operational and investing experience, we could not have imagined a better set of people to help us bring this vision to life,” mentioned Ashray Malhotra, CEO and co-founder, Rephrase.ai.
The firm has labored with greater than 50 international enterprises, together with, Castrol, Mondelez, and Xiaomi to call a couple of, to ship high-quality video creation capabilities. The firm goals to democratize video, making high-quality video creation capabilities out there to firms of all sizes throughout all industries, as per firm’s assertion.
“With the current mass customization of video content, our big bet is on the reinvention of the video production process, and that, as a business process technology, has incredible potential. We are impressed Rephrase.ai’s leadership and talent bench, which is a tremendous competitive advantage in such a nascent field.” Carlos Angrisano, president at Red Ventures.
Founded in 2019 by Ashray Malhotra, Nisheeth Lahoti, and Shivam Mangla, Rephrase.ai is a deep studying firm that makes use of synthetic intelligence (AI)to create artificial video content material.