USA – Rephrase.ai, a San Francisco, CA-based generative AI startup that aims to humanize communication through synthetic media, raised $10.6m in Series A financing.
This round was led by Red Ventures, with participation from Silver Lake, 8VC and other investors. The company intends to use the funds to enhance its capabilities by integrating product experiences; scaling hiring across the business, including within the Engineering, AI, Product, Sales, and Marketing teams; and expanding its presence in North America.Founded in 2019 by Ashray Malhotra, Nisheeth Lahoti, and Shivam Mangla, who are IIT alumni and Forbes Asia 30 under 30, Rephrase.ai aims to democratize video, making high-quality video creation capabilities available to companies of all sizes across all industries. It uses deep learning to create digital avatars of actual humans that can be used for synthetic video content with only text required as input. In the last year, the company has developed numerous digital avatars of Chief Experience Officers (CXOs), influencers, and celebrities characterized by advanced facial mapping, lip synchronization, voice, and expression capabilities. Through its contributions to marketing campaigns and synthetic product launches, Rephrase.ai helps businesses grow engagement and efficiencies around communications by increasing conversion, click-through rates (CTRs), consumption, and content adoption while reducing customer acquisition costs.The company has worked with more than 50 global enterprises, including, Castrol, Mondelez, and Xiaomi to name a few, to deliver high-quality video creation capabilities.16/09/2022
