InVideo announces $15M Series A Led by Sequoia Capital India
The Cloud based video creation platform has more than 800,000 users across 150 countries till date will use the funding to accelerate product development and build out InVideo’s collaborative, cross device video creation suite.
New Delhi, 27 October 2020:InVideo, the modern video creation platform that allows users to create high quality videos for any form of digital media, today announces a $15M Series A led bySequoia Capital India. The round also includes participation fromTiger Global,Hummingbird,RTP Global and Base.
InVideo offers an intuitive, yet full-featured video creation experience for amateurs and professionals alike. The platform combines video editing and compositing in a browser first solution, increasing accessibility, removing rendering time, shortening feedback loops, and making the process more inclusive.
Sanket Shah, CEO and co-founder of InVideo said:“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. InVideo cuts the time to create a professional quality video by over 90%, and allows the creator to focus on impact and message.InVideo’s vibrant creator community from across the globe is a testimony to the capabilities of our platform.
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/mo.The funding will help accelerate product development and build out InVideo’s collaborative, cross device video creation suite.
“From the time of Surge 02, Sanket and Harsh have impressed us with their maniacal obsession with customer experience – and this shows through in their product choices and consistently high NPS”,said Prateek Sharma, VP, Sequoia Capital India LLP.“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 USD 10 Bn market”, he added.
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 founded the company in response to this problem. InVideo now counts household names such as P&G, Dropbox, Reuters and ATT as users.
InVideo is a browser first video editing platform. In building InVideo, we are pushing browsers to the limit when it comes to handling rich media, animations and time. It’s an exciting and difficult technology problem to solve.
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.”