VideoVerse, a New York-based video-editing SaaS platform formerly known as Toch.ai - announced that it secured $46.8 million in Series B funding.
The round was led by A91 Partners, Alpha Wave Global, and Binny Bansal. Other investors include Innoven Capital, Pacific Western Bank, and Stride Ventures amongst others.
VideoVerse plans to utilize the capital including strengthening the team, technology, and global footprint while creating a conglomerate of AI-based next-generation video editing products.
Round: Series B
Funding Month: April 2022
Lead Investors: A91 Partners, Alpha Wave Global, and Binny Bansal
Additional Investors: Innoven Capital, Pacific Western Bank, and Stride Ventures
Company Website: https://vverse.ai/
Software Category: Video Editing
About the Company: VideoVerse – previously known as Toch.ai – has found an extremely strong product-market fit in serving enterprises across numerous industries - OTT players, broadcasters, sports clubs and leagues, marketing agencies, e-gaming platforms, schools, colleges, and more.VideoVerse is a video technology company that encapsulates an ecosystem of smart AI-based video editing suites for all enterprise and individual content creators. VideoVerse is building the next-generation video editing ecosystem addressing a broad range of use cases in the post-production process. The company started its journey by generating instant key moments and auto short-sized clips leveraging computer vision and AI capabilities, the sliver in which it is the current tech leader. VideoVerse today has offices in the U.S., Europe, Israel, and India and is expanding to Singapore and the Middle East by the end of this year.