In a significant stride towards revolutionizing the video-editing landscape, VideoVerse, the cutting-edge video-editing Software as a Service (SaaS) platform formerly known as Toch.ai, has successfully raised $45 million in its latest funding round. Bluestone Equity Partners, a distinguished global private equity firm specializing in the sports, media, and entertainment industry, led this latest investment round.
This funding comes on the heels of VideoVerse’s remarkable achievements in the fundraising arena. In April 2022, the company secured $46.8 million in a Series B round led by A91 Partners, Alpha Wave Global, and Binny Bansal. Before that, VideoVerse raised $12 million in a Series A round in October 2021, showcasing the industry’s confidence in the platform’s potential.
According to a report by BusinessInsider, the fresh infusion of capital will be strategically utilized by VideoVerse to fuel its geographic expansion and venture into new verticals. The company’s ambitious plans align with its mission to continually enhance its offerings and extend its innovative solutions to broader industries.
VideoVerse stands out with its SaaS platform, leveraging state-of-the-art technologies such as artificial intelligence models, computer vision, and machine learning. The platform transforms full-length video footage into concise, engaging, short-form content and highlights in real-time. At the forefront of VideoVerse’s product lineup is Magnifi, a cloud-based analysis tool that streamlines traditional labour-intensive, time-consuming, and costly editing processes.
The platform caters to various industries, including Over-The-Top (OTT) players, broadcasters, sports clubs and leagues, marketing agencies, e-gaming platforms, and educational institutions such as schools and colleges.
With headquarters in California and Mumbai, VideoVerse has established partnerships with top-tier sports leagues, teams, broadcast networks, and content producers. Notable collaborations include the UEFA Champions League, FA Cup, Bundesliga, Australian Open, U.S. Open, Wimbledon, NCAA Basketball, and the Indian Premier League (IPL).
In addition to its innovative approach to video editing, VideoVerse, under the leadership of Vinayak Shrivastav, has expanded its capabilities through strategic acquisitions. In the past year, the company announced acquisitions of Optikka and Reely.ai, further solidifying its position as a leader in the evolving video-editing landscape.
Bluestone Equity Partners, leading the funding round, marks the third investment from its inaugural $300 million fund launched in the first quarter of 2023. This latest investment follows Bluestone’s strategic investments in RWS Global and PMY Group earlier in the year.
As VideoVerse continues to evolve and redefine video editing through advanced technologies and strategic partnerships, the recent funding round is poised to propel the company to new heights, cementing its status as an industry trailblazer.
