Mirage, the maker of video modifying app Captions, has raised $75 million in progress financing from Normal Catalyst’s Buyer Worth Fund (CVF).
Over the previous yr, the startup has made important adjustments each to its product and company id. The startup rebranded from Captions to Mirage to place itself as an AI lab that produces totally different fashions and likewise caters to industries like promoting and advertising. It has additionally skilled a mannequin particularly for pacing, framing and a focus dynamics in brief movies.
The corporate additionally switched to a freemium mannequin in January 2025 to raised compete with apps like ByteDance’s CapCut and Meta’s Edits, which was launched later within the yr. It now provides a video creation suite as effectively, with among the options from Captions, that lets corporations create and distribute movies in bulk.
Mirage’s co-founder and CEO Gaurav Misra mentioned that the corporate goals to create extra fashions. Nevertheless, he didn’t specify what its subsequent set of fashions would do, solely saying that they might be targeted on “meeting intelligence” — principally placing collectively a video utilizing totally different sources and parts.
Talking about Mirage’s new audio mannequin, which it claims can protect accents in generated movies, Misra mentioned, “The explanation for the audio mannequin was that we observed that there was a spot in accents as a result of numerous our customers are worldwide. Accents are simply essential. There was my very own dad’s instance. He was making an attempt to make use of the app, and he would say a phrase in an Indian accent, and it might all the time make it sound like he’s speaking in an American accent.”
In keeping with information from analytics agency AppFigures, Captions have been downloaded over 3.2 million occasions within the final one year and has introduced in $28.4 million in in-app income. Misra mentioned the platform has been used to create greater than 200 million movies to date, and that it has attracted a global person base, with solely 25% of its income coming from the U.S.
At present, Mirage’s advertising suite is obtainable on the internet, and Captions largely provides a mobile-first modifying suite. The corporate goals to merge these two platforms to raised goal small companies that could be seeking to create advertising movies.
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Pranav Singhvi, managing director of Normal Catalyst’s CVF fund, mentioned Mirage has nice product-market match.,
“Mirage’s enterprise equation is extraordinarily discovered. They know precisely methods to spend that greenback and generate a really engaging ROI. If you consider the market they’re going after, it’s in a way an infinite complete addressable market. You can begin out within the creator world, the influencer world, after which use that as a mechanism to promote to enterprises as effectively,” Singhvi informed Trendster.
There are tons of corporations constructing AI video-generation pipelines for advertising. Canva has launched a number of instruments round advertising creation and monitoring, whereas platforms like D-ID, HeyGen, Webflow, and Avataar have been releasing new fashions and options.
Nevertheless, Singhvi appears assured about Mirage’s positioning and unit economics. “No matter what the opposite instruments are on the market, Mirage is clearly forward of the pack from a unit economics standpoint. Finally, it’s all a mirrored image of their product,” he mentioned.
Mirage goals to make use of the contemporary capital to gas progress, and develop in high-growth Asian markets.
