Mirage, the developer behind the AI video editing app Captions, has secured $75 million in growth financing from General Catalyst’s Customer Value Fund (CVF). The startup, previously known as Captions, has rebranded to Mirage, emphasizing its AI capabilities in generating various models for industries such as advertising and marketing. Mirage has recently focused on training a model tailored for pacing, framing, and attention dynamics in short videos.
In a strategic move to enhance competitiveness with apps like CapCut and Edits, Mirage transitioned to a freemium model in January 2025, offering a comprehensive video creation suite incorporating features from Captions. This suite enables businesses to create and distribute videos at scale.
Mirage’s co-founder and CEO, Gaurav Misra, expressed the company’s intent to develop additional models with a focus on ‘assembly intelligence,’ aimed at assembling videos from diverse sources and components. Notably, Mirage introduced an audio model capable of preserving accents in generated videos, catering to an international user base.
AppFigures data indicates that Captions has garnered over 3.2 million downloads and generated $28.4 million in in-app revenue within the last year. The platform has facilitated the creation of over 200 million videos, with a substantial portion of revenue originating from international markets.
Mirage’s evolution underscores the significance of AI-driven solutions in video editing, exemplifying the company’s commitment to advancing model development for enhanced user experiences.
Source: TechCrunch