Mirage, the startup behind the popular video editing app Captions, has raised $75 million through General Catalyst’s Customer Value Fund (CVF). The startup did not disclose its valuation after the investment.
Over the past year, Mirage has changed both its product strategy and brand identity, ditching the Captions name and repositioning itself as an artificial intelligence lab. The startup is working on models aimed at optimizing short video content for advertising and marketing.
According to AppFigures, the app has been downloaded more than 3.2 million times in the past year and has generated $28.4 million in revenue. Mirage currently competes with platforms such as CapCut.
With the new investment, the startup plans to grow, especially in the Asian market, and develop artificial intelligence models that create automatic videos.
