Mirage Secures $75M to Expand AI Video Creation for Marketing
Mirage, the rebranded video platform formerly known as Captions, closed a $75 million funding round led by General Catalyst's Customer Value Fund. The company plans to use the capital to accelerate growth in Asia and build out its suite of AI video models designed specifically for marketing teams.
CEO Gaurav Misra has repositioned the company as an AI lab focused on advertising and marketing applications. The models optimize for pacing, framing, and viewer attention in short-form video-the format that dominates social media feeds.
Competing With Established Platforms
Mirage shifted to a freemium model to compete directly with CapCut and Meta's Edits. The company now offers a broader video creation suite that lets businesses produce content at scale without hiring production teams.
The platform has created over 200 million videos to date, with strong adoption outside the United States.
New Capabilities for Video Assembly
Mirage is developing what it calls "assembly intelligence"-models that combine multiple inputs into finished video outputs. This addresses a core pain point for marketing teams: the time required to stitch together shots, music, text, and effects.
For marketing professionals, the tool could reduce the friction between creative concept and published content. Teams could feed raw footage, brand guidelines, and messaging into the system and receive finished videos ready for distribution.
Learn more about generative video tools and AI for marketing applications.
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