rephrase.ai Funding: Artificial Intelligence Startup Rephrase.ai Raises $10.6M in Funding Led by Red Ventures
The startup will use the funds to improve its capabilities by integrating product experiences; scaling hiring across the company, including engineering, AI, product, sales and marketing teams; and expand its presence in North America.
Rephrase.ai aims to democratize video, making high-quality video creation capabilities available to businesses of all sizes in all industries.
“We started Rephrase.ai four years ago with the goal of creating an engine that could create professional-looking videos,” said Ashray Malhotra, CEO and co-founder of Rephrase.ai. “Over the past year, we have developed hundreds of digital human clones, creating millions of videos in the 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 videos.
Rephrase.ai uses deep learning to create digital avatars of real humans that can be used for synthetic video content with only text input.
“With the current mass customization of video content, our bet is on reinventing the video production process, and this, as a business process technology, has incredible potential. We are impressed with the leadership and talents of Rephrase .ai, which are a tremendous competitive advantage in such a nascent field,” said Carlos Angrisano, President of Red Ventures.
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Over the past year, Rephrase.ai’s team has grown from 12 to 35 people and built a team that includes researchers from Google, Samsung, Facebook, and Amazon.