Magisto Raises $13 Million

Magisto Logo
Magisto is a social video service that has raised $13 million in funding.  Magisto built an app that allows users to create interest videos that are stored on various devices.  The investors in this round include Qualcomm Ventures and SanDisk.  Existing investors Magma Venture Partner and Horizons Ventures also participated in this round. 

Magisto has over 13 million users since they launched.  Magisto is known for helping people become “video storytellers.”  Magisto uses algorithms to put together multiple videos and photos. 

Magisto can also be used for creating shareable videos and photo slideshows.  These videos can be also shared on social networks with friends and family members.

[Source: TechCrunch]

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