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Rephrase.ai, a generative AI startup aiming to humanize communication through synthetic media, has raised $10.6 million in Series A funding led by Red Ventures, a global company with diverse brands and businesses , focused on delivering premium content and personalized digital experiences. Silver Lake, a global technology investment leader and investor from Red Ventures, also participated in this round of financing, as well as investors such as 8VC. The funds raised will enable the company to enhance its capabilities by integrating product experiences, scaling hiring across the business (including engineering, AI, product, sales and marketing teams), and expanding its presence in North America.
“We started Rephrase.ai four years ago with the goal of building an engine that would make creating professional-quality video as easy as writing text. Last year, we developed hundreds of digital human clones, creating hundreds of 10,000 video process. I’m excited to welcome Red Ventures, Silver Lake, and 8VC as partners on this journey to help accelerate the global adoption of generative AI video. Given their operational and investment experience, we can’t imagine a more Better people help us realize this vision,” said Ashray Malhotra, CEO and co-founder of Rephrase.ai.
The company cooperates with more than 50 global companies such as Castrol, Mondelez, and Xiaomi to provide high-quality video creation capabilities. According to the company’s statement, the company aims to democratize video, providing high-quality video creation capabilities to companies of all sizes in all industries.
“With the current mass customization of video content, our big bet is to reinvent the video production process, and it has incredible potential as a business process technology. Rephrase.ai’s leadership and talent pool leave us with Very impressed, this is a huge competitive advantage in such an emerging field.” Carlos Angrisano, President of Red Ventures.
Founded in 2019 by Ashray Malhotra, Nisheeth Lahoti and Shivam Mangla, Rephrase.ai is a deep learning company that uses artificial intelligence (AI) to create synthetic video content.