InVideo raises $2.5M and launches an automated assistant to make your videos better
Video editing startup InVideo has new funding and a new product.
The San Francisco-headquartered company bills itself as the easiest way for anyone to create professional-quality videos, using a drag-and-drop interface, along with a library of templates and stock photos and videos. The resulting videos can then be optimized for Facebook, Instagram, YouTube and other platforms.
InVideo's new assistant does even more to help with the process. As demonstrated for me by co-founder and CEO Sanket Shah, as you create a video, it automatically makes suggestions for how the video could be improved - he compared it to Grammarly, but for video.
Shah said the assistant currently focuses on two areas, both text-related. First, it's making sure that all the text on the screen is readable - so that, for example, you don't have light-colored text on a light background. Second, it's making sure the text is "comprehensible" - so that there's not too much text on the screen, or it's not flashing by too quickly.
"We all think that design is very creative, but there's a lot of science in it as well," he said.
Shah told me InVideo's founders first worked together on a startup aiming to create 10-minute video summaries of nonfiction books. That's when they discovered "video creation is a very painful process, it's just not scalable." So they launched the current startup hoping to solve this problem.
The company says it now has 100,000 customers - including AT&T, Sony Music, Reuters, CNN and CNBC - in 150 countries.
It might seem surprising for a large media company to need to use a tool like this, but Shah explained, "The users who use us [at those large companies] today are not video editors. If you want to constantly create videos about the U.S. elections, it's not a video editor who's doing it, it's very likely a news producer" with limited or nonexistent editing experience.
Pricing for the editor starts at $10 per month, though there's also a free version if you don't mind watermarks.
InVideo is also announcing that it has raised an additional $2.5 million in funding from Sequoia Capital India's Surge, along with angel investors Anand Chandrasekaran and Gokul Rajaram. It has now raised a total of $3.2 million.
"InVideo has truly captured the imagination of our users with their super user-friendly online video editor and great customer support," said Ayman Al-Abdullah, CEO and President of software deals website AppSumo, in a statement. "In fact, it has gone on to become the most sold product in AppSumo history."