California based start-up Reduct.Video has raised USD 4 Million funds on 11th of February, 2021 in a seed funding round led by Greylock and South Park Commons. The company has secured a total of USD 4 Million in funding over 3 rounds.
Investors: The association has acquired a capital of around USD 4 Million in seed funding round led by Greylock and South Park Commons with the participation from Figma CEO Dylan Field, Hopin Chief Business Officer Armando Mann and former Twitter exec Elad Gil.
What the funding is for: The fresh fundings would be utilized for expanding their staff base and global reach. Also they are desiring to dramatically grow the quantities of videos generated by businesses.
Founder of the company: Prabhas Pokharel and Robert Ochshorn
Founded year: 26 March, 2018
About the company: Reduct.Video is a privately held AI- powered cloud video platform that goals to allow for richer human communication. Its headquarter is established in the San Francisco Bay Area, West Coast, Western US and has a work strength of around 20- 25 employees. The start-up’s AI technology is earlier utilized by clients like Dell, Spotify, Indeed, Auto- Desk, Intuit, Facebook, Superhuman and IDEO. The company is using natural processing and Artificial technology to clarify the method through automatically transcribing the video footage then applying that transcript to video. Customers can also pay for some professional transcription and also search for video by hours of footage for every single time the subject is mentioned.
What the CEO has to say: “AI allows Reduct to simplify parts of the sorting and editing process, like understanding how different search terms might be related. But he doesn’t think the process will ever become Fully automated – instead, he compared the product to an “Iron Man Suit,” which makes a human editor more powerful”.
“Users on Reduct emphasize authenticity over polish, where it’s much more the content of the video that matters”.
“Reduct has been learning from our customers about what they can do with the product – user research teams can now easily organize and share hundreds of hours of user footage, while marketers can turn customer testimonials and webinars into short, shareable videos”.
“Video has been so supply constrained, it’s crazy, there are all these use cases for asynchronous video that (Companies) haven’t even bothered with”. Said Prabhas Pokharel, CEO of the company.
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