Captions, an AI-powered video creation app for iOS, has secured $25 million in Series B funding led by Kleiner Perkins. The app has seen a significant uptake in users since its launch in 2021, with over three million users to date. Additional funding for the Series B was provided by Sequoia Capital, Andreessen Horowitz (a16z), and SV Angel, bringing the total amount raised by Captions to $40 million. The company was founded by Gaurav Misra, who previously worked at Snap and Microsoft.
The App’s Features and Functionality
Captions initially launched as a camera application for “talking videos”, where creators engage with the camera directly. The app has since evolved into a holistic creative suite, offering a range of AI-powered features, such as redubbing a speaker’s words into another language while maintaining the sound of their voice, human-like AI voiceovers, and AI-powered short clip production from a longer piece of video. Captions also offers unique, original, AI-created, royalty-free music for videos.
The app leverages OpenAI’s GPT-4 large language model (LLM) and an AI Eye Contact feature developed with Nvidia. Captions recognized the need for an eye contact correction feature for creators using teleprompters and off-screen scripts, and collaborated with Nvidia to develop the feature. The AI adjusts a video host’s gaze in real-time, giving the illusion that they are making eye contact with the camera.
Captions has garnered traction among business users involved in social media management, content marketing, and growth marketing. The platform appeals to a diverse audience, including influencers, realtors, fitness trainers, musicians, and sales professionals. Notable accounts utilizing Captions include ESPN and its commentator Omar Raja, Mr. Wonderful of Shark Tank fame, Twitch’s founder Justin Kan, and the influencer Unnecessary Inventions.
The Investors’ Praise
The investors have praised Captions for its use of AI in video production and its potential to revolutionize the studio experience for today’s creator economy. Kleiner Perkins partner, Everett Randle, spoke highly of Captions, stating that “Gaurav and the Captions team have deep empathy for and understanding of creators from their time at Snap that we believe is critical in building within this new era of AI-enabled product development. We’re thrilled to lead Captions’ Series B and support the creation of the AI-powered creative studio.”
Sequoia Capital’s Mike Vernal also heaped praise on Misra and Captions, stating that “The user enthusiasm and loyalty Captions has experienced this early on is a clear indication of their future success.”
In conjunction with its funding announcement, Captions has announced a rebranding and new look that “properly represents the defining characteristics of Captions.” The company will continue to transform content creation through state-of-the-art AI functionalities, with a focus on AI-enabled product development and the creation of an AI-powered creative studio.
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