Captions closed a $60M Series C as it plans to invest $100M into generative video research
Captions, an AI-powered video creation platform, has raised $60 million in Series C funding, bringing its total funding to over $100 million and valuing the company at $500 million, while announcing plans to invest $100 million in AI video research in New York City.
Captions, a New York-based AI-powered video editing and generation platform, recently announced a new milestone in its growth trajectory: the company has successfully raised $60 million in a Series C funding round, led by Index Ventures with participation from existing investors Kleiner Perkins, Sequoia Capital, and Andreessen Horowitz. New investors, including Adobe Ventures, HubSpot Ventures, and actor Jared Leto, backed Captions' Series C round. With this investment, Captions' has raised over $100 million, placing the company's valuation at $500 million.
The Series C round follows Captions' remarkable growth as the platform now boasts over 10 million global creators and enables the creation of more than 3 million monthly videos. Moreover, the recent launch of AI Creator and AI Edit has opened up possibilities previously inaccessible for creators without access to a professional studio. AI Creator enables users to generate full custom videos featuring their 3D avatar, custom lighting and backgrounds, and different camera angles. Similarly, AI Edit offers one-click video editing, automatically adding enhancements like custom graphics, B-roll, transitions, and zooms.
In addition to announcing the Series C investment, Captions has shared that its plans for its next growth stage include a $100 million investment in generative video research in New York City. This decision underscores Captions' commitment to innovation and its belief in New York as an emerging epicenter for AI research.
