Online video editor InVideo got not just new funds but also new product.
Headquartered in San Francisco, Western US, InVideo helps its user transform their content into a great video. It is a video platform that helps publishers, media companies and brands to expand audience engagement through the power of video content.
“We all think that design is very creative, but there’s a lot of science in it as well,” Sanket Shah, CEO at InVideo said. The video editor announced it has obtained $2.5 million in funding which was led by Sequoia Capital India, together with Angel investors Anand Chandrasekaran and Gokul Rajaram.
According to the company, it plans to use the new capital to escalate its platform globally, while also investing in its district and developing its current product offering. The company claims that it has over 100,000 customers across 150 countries, including big techs and media companies like AT&T, CNBC, CNN, Sony Music and Reuters as well.
Apart from its newly collected capital, InVideo is also launching a new product. InVideo’s new assistant helps users with the process. Shah showed TechCrunch how the assistant works and explained that as the user creates a video, the assistant automatically makes suggestions for how the video would be improved. Shah compared the new assistant to Grammarly, an app that corrects the grammar instantly.
“The users [big companies] who use us today are not video editors. If you want to constantly create videos about the U.S. elections, it’s not a video editor producer, it’s very likely a news producer”, said Shah.
The new fund brings InVideo $3.2 million in total.
Ayman Al-Abdullah, CEO and President of AppSumo also commented saying, “InVideo has truly captured the imagination of our users with their super user-friendly online video editor and great customer support. In fact, it has gone on to become the most sold product in AppSumo history.”
As for the pricing, InVideo asks its users a $10 a month subscription. It offers a free editor but has its watermark on it.