[Funding alert] Video creation platform InVideo raises $15M in Series A led by Sequoia Capital India
InVideo, the Mumbai-headquartered video creation platform that allows users to create high quality videos for any form of digital media, has raised a $15 million Series A funding round led by Sequoia Capital India. The round also saw participation from Tiger Global, Hummingbird, RTP Global, and Base Ventures.
InVideo offers a full-featured video creation experience for amateurs and professionals alike. The platform claims it combines video editing and compositing in a browser-first solution, increasing accessibility, removing rendering time, shortening feedback loops, and making the process more inclusive.
“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,” said Sanket Shah, CEO and Co-founder of InVideo.
“InVideo cuts the time to create a professional quality video by over 90 percent, and allows the creator to focus on impact and message,” he added.
Since launching a year ago, the platform has over 800,000 users from more than 150 countries who have created videos in over 75 languages. InVideo is a freemium product with paid plans starting at $10 per month. The funding will help accelerate product development and build out InVideo’s collaborative, cross device video creation suite, the company said.
“We believe the global SaaS companies of tomorrow are going to be built from India. And with their stellar product, design, and tech capabilities, InVideo is well placed to become the platform of choice for video creation in a potentially $10 billion market,” said Prateek Sharma, VP, Sequoia Capital India LLP.
InVideo was launched in April 2019 by Sanket Shah and Harsh Vakharia who first worked together on 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. They understand how painful the video creation process is and how most solutions in the market were inflexible and boxed the creator into readymade templates. .
InVideo now counts household names such as P&G, Dropbox, Reuters and ATT as users.
“This fresh capital injection will allow us to continue our mission to build a world-class technology solution, expand at scale and help more individuals and businesses create unique videos that fit their needs in the easiest way possible,” Sanket said.