Video creation platform InVideo has raised $15 million in its Series A round of funding from Sequoia Capital India, along with other investors like Tiger Global, Hummingbird, RTP Global and Base.
The funding will help accelerate product development and build out InVideo’s collaborative, cross device video creation suite, said the company in a press note.
The platform combines video editing and compositing in a browser first solution, increasing accessibility, removing rendering time, shortening feedback loops, and making the process more inclusive.
Since launching a year ago, the platform has over 8 lakh users from more than 150 countries who have created videos in over 75 languages. It is a ‘freemium’ product with paid plans starting at $10 per month.
"Making professional quality videos is hard. InVideo is set to change that. We have a single goal: to replace the current crop of cumbersome and expensive video editing software with an intelligent, yet flexible platform. InVideo cuts the time to create a professional quality video by over 90 percent, and allows the creator to focus on impact and message,” said Sanket Shah, chief executive officer, InVideo.
InVideo was launched in April 2019 by Shah and Harsh Vakharia who first worked together with a startup that created 10-minute video summaries of nonfiction books and have also spent time building an enterprise grade video creation suite for newsrooms.
The homegrown InVideo now counts household names such as P&G, Dropbox, Reuters and ATT as users from around the globe.
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