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Video production and editing platform InVideo has raised $15 million in its Series A funding round led by Sequoia Capital India. The round also includes participation from Tiger Global, Hummingbird, RTP Global and Base.
InVideo was a part of the second cohort of Sequoia’s accelerator program announced in October last year. The San Francisco- and Mumbai-based startup had also picked up $2.5 million from Surge and angel investors including Anand Chandrasekaran and Gokul Rajaram.
This fresh capital will be used to build technology solutions, expand at scale and help more individuals and businesses, said the company in a press release.
InVideo was launched in April 2019 by Sanket Shah and Harsh Vakharia which offers video editing and compositing in a browser first solution, increasing accessibility, removing rendering time, shortening feedback loops, and making the process easier.
InVideo feature also includes drag-and-drop functionality and video library and formatting for Facebook, YouTube, Instagram, Twitter and WhatsApp.
“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,” said Shah, CEO and co-founder of InVideo.
Since its inception, InVideo claims to have 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 from $10 a month to up to $30 for premium features. It counts P&G, Dropbox, Reuters and ATT as users.
Besides the aforementioned investors, it also counts Haresh Chawla, Kunal Bahl, Ashish Hemrajani and Miten Sampat as its early backers. Globally, Filmora, Adobe Premiere Pro, Animoto, iMovie are some of the alternatives for InVideo.
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