InVideo, a Mumbai-based startup that has constructed a video creation and enhancing platform, has raised $15 million because it seems to be to courtroom extra customers and clients worldwide.
The startup provides a freemium web-based enhancing device that enables customers to create movies for all the favored social media platforms (comparable to Twitter, Fb, YouTube). It has amassed over 800,000 customers in a yr since its launch who’ve created movies in over 75 languages.
It has additionally courted a number of high-profile clients together with Reuters, AT&T, Dropbox, and P&G, Sanket Shah, co-founder and chief government of InVideo, advised PJDM in an interview earlier this week. A few of these clients are white-labeling InVideo platform to their very own purchasers.
InVideo’s $15 million Collection A financing spherical was led by Sequoia Capital India. Tiger World, Hummingbird, RTP World, and Base additionally participated within the spherical.
Prateek Sharma, VP at Sequoia Capital India, stated that InVideo is a part of a rising variety of startups in India which are constructing a SaaS platform for the world. “With their stellar product, design and tech capabilities, InVideo is well-placed to change into the platform of selection for video creation in a probably $10 billion market,” he stated.
Not like most SaaS startups which are rising from India, InVideo is at present not totally monetizing its platform. InVideo app provides a spread of functionalities at no cost, and expenses solely $10 a month for premium purchasers comparable to a advertising company.
Shah acknowledged that the startup may cost these enterprise clients far more, however he stated the startup first needs to succeed in extra customers earlier than it seems to be into monetization alternatives. Moreover, he’s of the opinion that InVideo platform mustn’t price a lot within the first place. (In the course of the dialog, it turned clear that companies comparable to Notion that provide a spread of options to customers at no cost have influenced how Shah is considering constructing InVideo.)
To that impact, InVideo plans to take away one of many greatest limitations without spending a dime customers: the persistent watermark on movies.
InVideo at present doesn’t have any cellular or desktop app. Customers go to an internet browser, the place the startup’s personal tech stack permits them to add the video, make the enhancing after which course of it, Shah stated. (As soon as the video has processed, customers see a one-click choice to publish it on their social media platforms.) However InVideo plans to launch cellular apps by early subsequent yr, he stated.
Apart from this, there are a variety of extra options together with potential for customers to collaborate that InVideo is engaged on, and the brand new financing round will assist speed up that, he stated. The startup, which additionally has groups within the U.S. and several other different international locations, additionally plans to rent extra individuals.
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