Mirage raises $75M to continue building models for its AI video editing app Captions | TechCrunch

Mirage, the maker of video editing app Captions, has raised $75 million in growth financing from General Catalyst’s Customer Value Fund (CVF). Over the past year, the startup has made significant changes both to its product and corporate identity. The startup rebranded from Captions to Mirage to position itself as an AI lab that produces different models and also caters to industries like advertising and marketing. It has also trained a model specifically for pacing, framing and attention dynamics in short videos. The company also switched to a freemium model in January 2025 to better compete with apps like ByteDance’s CapCut and Meta’s Edits, which was released later in the year. It now offers a video creation suite as well, with some of the features from Captions, that lets companies create and distribute videos in bulk. Mirage’s co-founder and CEO Gaurav Misra said that the company aims to create more models. However, he didn’t specify what its next set of models would do, only saying that they would be focused on “assembly intelligence” — basically putting together a video using different sources and components. Speaking about Mirage’s new audio model, which it claims can preserve accents in generated videos, Misra said, “The reason for the audio model was that we noticed that there was a gap in accents because a lot of our users are international. Accents are just very important. There was my own dad’s example. He was trying to use the app, and he would say a word in ...