Rephrase.ai, a San Francisco, CA-based generative AI startup that aims to humanize communication through synthetic media, raised $10.6 million in a Series A financing round.
The round was led by Red Ventures, with participation from 8VC and Silver lake.
This investment will enable Rephrase.ai to strengthen its capabilities by combining product experiences, growing recruiting across the business, including in the Engineering, AI, Product, Sales, and Marketing teams, and expanding its footprint in North America.
Rephrase.ai aims to democratize video, making high-quality video creation capabilities available to companies of all sizes across all industries. With video becoming the default mode of communication, synthetic video creation capabilities empower marketing, communications, and content teams to scale and humanize their efforts.
"We started Rephrase.ai four years ago with the goal of building an engine that can make creating professional quality videos as easy as writing text," said Ashray Malhotra, CEO and Co-founder of Rephrase.ai. "In the last year, we've developed hundreds of digital human clones, creating millions of videos during the process. I'm thrilled to welcome Red Ventures, Silver Lake, and 8VC as partners on this journey to help expedite the world's adoption of generative AI videos. Given their operational and investing experience, we could not have imagined a better set of people to help us bring this vision to life. The intent of humanizing communications is to bring the ability to communicate with people, like people."
Company: Rephrase Corp.
Raised: $10.6M
Round: Series A
Funding Month: September 2022
Lead Investors: Red Ventures
Additional Investors: 8VC and Silver lake
Company Website: https://www.rephrase.ai/
Software Category: Re-generative AI Platform
About the Company: Founded in 2019 by Ashray Malhotra, Nisheeth Lahoti, and Shivam Mangla, Rephrase.ai is a deep learning company that uses Artificial Intelligence (AI)to create synthetic video content. With the help of its AI technology, Rephrase.ai can clone any person to make their digital avatar. Using its re-generative AI platform, Rephrase.ai helps businesses create synthetic videos of real humans to communicate with their customers, employees, and other stakeholders with only text-required input. Rephrase.ai has worked with more than 50 global enterprises, including Castrol, Mondelez, and Xiaomi, to name a few, to deliver high-quality video creation capabilities.
Source: https://www.prnewswire.com/news-releases/rephraseai-secures-10-6-million-in-series-a-funding-led-by-red-ventures-301625673.html