Mirage, the parent company of the AI video editing app Captions, has raised $75 million in a growth funding round led by General Catalyst’s Customer Value Fund. The company, which rebranded from "Captions" to focus on AI-driven solutions, aims to enhance its proprietary models for industries like advertising and marketing. With over 3.2 million downloads and $28.4 million in in-app revenue, Mirage plans to use the funds to expand into high-growth Asian markets and integrate a web-based marketing suite with its mobile tools. Mirage's transition to a freemium model in January 2025 has positioned it to compete with rivals such as CapCut and Meta Edits. The company has developed specialized models for short-form video pacing and audio preservation, contributing to the production of over 200 million videos. Approximately 25% of its revenue is generated from the United States, highlighting its significant market presence.
Mirage Secures $75 Million to Expand AI Video Editing Capabilities
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