Mirage, the company behind the AI-powered video editing app Captions, just closed a $75 million growth round from General Catalyst’s Customer Value Fund. This funding marks a big bet on AI-native creative tools as the video editing landscape shifts from desktop software to mobile-first, algorithm-powered apps. As creators increasingly turn to automated editing solutions, Mirage’s filing signals growing investor confidence in consumer AI applications that can democratize professional-level video production.
Mirage, the startup behind the AI video editing app Captions, has raised $75 million in growth funding from General Catalyst’s Customer Value Fund, according to an exclusive report from TechCrunch. The deal is one of the largest consumer AI rounds in recent months, and comes as investors readjust their bets on which AI applications will actually catch on with mainstream users.
Timing couldn’t be more important. Video content now dominates social media feeds, and platforms like TikTok, Instagram Reels, and YouTube Shorts are driving an explosive demand for fast, sophisticated video creation. However, most creators don’t have the time or skills to use traditional editing software. Mirage then found a breakthrough. Captions uses AI models to automate tedious editing tasks like adding subtitles, removing fillers, and improving audio quality, turning tasks that used to take hours into just a few taps.
General Catalyst’s Customer Value Fund specializes in growth-stage investments in companies with already proven product-market fit. Although the announcement didn’t reveal any specific metrics, the fund’s backing suggests Mirage is showing real traction with its user base. CVF has previously backed companies like Stripe and Gusto, typically writing checks of $50 million to $150 million to rapidly scaling companies.
What sets Mirage apart in the crowded video editing space is its focus on building its own AI models rather than relying solely on third-party APIs. While competitors may license technology from large AI labs, Mirage appears to be focused on developing specialized models trained specifically for video editing tasks. This approach requires significant capital in both computing resources and AI talent, which may explain the large funding rounds.
