Rephrase.Ai Raises $10.6 Million.
Rephrase.ai, a startup that aims to humanize communication through synthetic media, has raised $10.6 million in funding to enhance its capabilities and expand its presence in North America.
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.
"Given how people consume information today, scalable solutions to deliver personalized video are needed now more than ever," said Carlos Angrisano, president of Red Ventures, one of the leading investors, in a statement. "With the current mass customization of video content, our big bet is on the reinvention of the video production process, and that, as a business process technology, has incredible potential. We are impressed by Rephrase.ai's leadership and talent bench, which is a tremendous competitive advantage in such a nascent field."
"We started Rephrase.ai four years ago with the goal of building an engine that can make creating professional-quality videos as easy as writing text," said Ashray Malhotra, CEO and co-founder of Rephrase.ai, in a statemen. "In the last year, we've developed hundreds of digital human clones, creating millions of videos during the process."