Mumbai, India-based Video editing software-as-a-service (SaaS) platform Videoverse raised USD 46.8 million in Series B funding. The round took place on April 20, 2022. A91 Partners, Alpha Wave Global, and Binny Bansal, former co-founder of Flipkart, led the funding for VideoVerse.

Meanwhile, the Series B round saw participation from Stride Ventures, Innoven Capital, and Pacific Western Bank, among others. The recent investment is a mix of equity and debt.

Purpose of Funding for VideoVerse

With the recent capital, Videoverse will strengthen its teams in India and internationally. It will also look to enhance its technological capabilities and build newer products. 

Meanwhile, the video editing software startup will expand its global market share. Currently, the company has offices in the US, Europe, Israel and India. Videoverse plans to expand to Singapore and the Middle East by 2022.

Previously In October 2021, Videoverse raised USD 11.75 million in Series A funding. The funding back then was led by Moneta Ventures, Baring Private Equity India, Binny Bansal, and Ventureast.

What the founders have to say

“We are thrilled to reveal our rebrand and a new round of significant funding as we move forward in 2022. The new name accurately reflects our leadership position as the go-to partner when enterprises and consumers think about video, which is critical as we join hands with A91 Partners and Alpha Wave Global. As we chart out the next phase of our growth journey, these funds will help us in our mission to innovate on behalf of consumer needs and industry demands. I, along with my other co-founder, Saket Dandotia and Alok Patil, believe that VideoVerse as a brand complements this larger expectation shift that is currently shaping the industry, and we are excited to see how we can evolve and get better as we grow bigger,” said VideoVerse CEO and Co-founder Vinayak Shrivastav.

What the investors have to say

Gautam Mago, General Partner at A91 Partners, said,” Video creation and consumption will continue to see explosive growth, whether the latest binge-worthy web series, corporate branding video, sports content or short social video. Despite this massive growth, however, video is still a complex technology that involves large files and a lot of computing. VideoVerse is revolutionizing expensive and time-consuming legacy processes by driving video editing to the cloud age. The company has a strong presence in Indian and global markets and is poised to become a significant market leader. We are delighted to partner with them and support their vision.”

In addition, Kanishk Tyagi, an Investor from Alpha Wave Global, said, “What we liked about VideoVerse was that it provided a clear, quantifiable value proposition to its users – reducing time to edit by 95%, reducing manpower costs by less than half and driving higher engagement up to 2-3x. The team was the other needle-moving factor for us. Vinayak and his team have a customer-centric approach and great execution ability, and we are happy to partner with him for the next chapter.” 

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Jasleen Bhatia works as a content writer for VCBay News. She is pursuing her final semester in Bachelor of Business Administration from IIPS, DAVV. Driven by her keen interest in entrepreneurship and finance, she writes business-related articles.

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