- Video editing company InVideo announced it has raised $2.5 million in funding
Video editing company InVideo announced it has raised $2.5 million in funding and launched a new product, according to TechCrunch. The company is known for offering an easy way to create professional-quality videos with a drag-and-drop interface. Plus the company also offers a library of templates and stock photos and videos. Then the videos can be can optimized for Facebook, Instagram, YouTube, and other video platforms.
And InVideo’s new assistant also helps with the process. In a demo for TechCrunch by InVideo co-founder and CEO Sanket Shah, it showed how the platform automatically makes suggestions for how the video could be improved. The platform has been compared to Grammarly for video.
Shah also pointed out that the assistant focuses on two areas, both text-related. First, it is making sure that all the text on the screen is readable so that you don’t have light-colored text on a light background. And it also makes sure that the text is comprehensible, meaning there is not too much text on the screen or it’s not flashing by too quickly.
Shah told TechCrunch that InVideo’s founders first worked together on a startup aiming to create 10-minute video summaries of nonfiction books. And that is when they discovered “video creation is a very painful process, it’s just not scalable.”
Now InVideo has 100,000 customers, including AT&T, Sony Music, Reuters, CNN, and CNBC across 150 countries. The editor has a starting price of $10 per month. And there is a free version with watermarks.
The $2.5 million funding round was from Sequoia Capital India’s Surge along with angel investors Anand Chandrasekaran and Gokul Rajaram. Including this round of funding, it has now raised a total of $3.2 million.
“InVideo has truly captured the imagination of our users with their super user-friendly online video editor and great customer support,” stated Ayman Al-Abdullah, CEO and president of AppSumo. “In fact, it has gone on to become the most sold product in AppSumo history.”
