Rephrase.ai Raises $10.6 Million In Series A Funding This fund raised will allow the company to enhance its capabilities by integrating product experiences, scaling hiring across the business, including within the engineering, AI, product, sales, and marketing teams, and expanding its presence in North America
By Teena Jose
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Rephrase.ai, a generative AI startup that aims to humanize communication through synthetic media, has raised $10.6 million in Series A funding round led by Red Ventures, a global company with a diverse portfolio of brands and businesses focused on offering premium content and personalized digital experiences. Silver Lake, the global leader in technology investing and an investor in Red Ventures, also participated in the round, in addition to 8VC and other investors. This fund raised will allow the company to enhance its capabilities by integrating product experiences, scaling hiring across the business, including within the 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 can make creating professional quality videos as easy as writing text. In the last year, we've developed hundreds of digital human clones, creating millions of videos during the process. I'm thrilled to welcome Red Ventures, Silver Lake, and 8VC as partners on this journey to help expedite the world's adoption of generative AI videos. Given their operational and investing experience, we could not have imagined a better set of people to help us bring this vision to life," said Ashray Malhotra, CEO and co-founder, Rephrase.ai.
The company has worked with more than 50 global enterprises, including, Castrol, Mondelez, and Xiaomi to name a few, to deliver high-quality video creation capabilities. The company aims to democratize video, making high-quality video creation capabilities available to companies of all sizes across all industries, as per company's statement.
"With the current mass customization of video content, our big bet is on the reinvention of the video production process, and that, as a business process technology, has incredible potential. We are impressed Rephrase.ai's leadership and talent bench, which is a tremendous competitive advantage in such a nascent field." Carlos Angrisano, president at 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.
