Rephrase.ai Raises $10.6 Million In Collection A Funding
Rephrase.ai, a generative AI startup that goals to humanize communication by artificial media, has raised $10.6 million in Collection A funding spherical led by Purple Ventures, a world firm with a various portfolio of manufacturers and companies targeted at providing premium content material and customized digital experiences. Silver Lake, the worldwide chief in know-how investing and an investor in Purple Ventures, additionally participated within the spherical, along with 8VC and different traders. This fund raised will permit the corporate to reinforce its capabilities by integrating product experiences, scaling hiring throughout the enterprise, together with inside the engineering, AI, product, gross sales, and advertising and marketing groups, and increasing its presence in North America.
“We began Rephrase.ai 4 years in the past with the purpose of constructing an engine that may make creating skilled high quality movies as straightforward as writing textual content. Within the final 12 months, we have developed a whole lot of digital human clones, creating thousands and thousands of movies throughout the course of. I am thrilled to welcome Purple Ventures, Silver Lake, and 8VC as companions on this journey to assist expedite the world’s adoption of generative AI movies. Given their operational and investing expertise, we couldn’t have imagined a greater set of individuals to assist us convey this imaginative and prescient to life,” stated Ashray Malhotra, CEO and co-founder, Rephrase.ai.
The corporate has labored with greater than 50 world enterprises, together with, Castrol, Mondelez, and Xiaomi to call a couple of, to ship high-quality video creation capabilities. The corporate goals to democratize video, making high-quality video creation capabilities obtainable to firms of all sizes throughout all industries, as per firm’s assertion.
“With the present mass customization of video content material, our large wager is on the reinvention of the video manufacturing course of, and that, as a enterprise course of know-how, has unbelievable potential. We’re impressed Rephrase.ai’s management and expertise bench, which is an incredible aggressive benefit in such a nascent subject.” Carlos Angrisano, president at Purple Ventures.
Based 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.