VideoVerse announced that it has secured $45 million to support its mission of transforming the way content owners create, distribute, and monetize their content. VideoVerse specializes in enabling businesses to create and monetize short-form content at scale. The funding will be used to further enhance its AI-powered platform that identifies key content, generates clips, and distributes them across various channels in real-time.

There is an increasing demand for short-form videos and quick highlights across all media channels. Content owners often struggle to meet these needs due to the high cost and slow process of video editing. One of VideoVerse’s products, Magnifi, is designed to address this issue by allowing businesses to reduce their video production costs by approximately 70% and production time up to 90%.

The SaaS platform developed by VideoVerse uses artificial intelligence, machine learning, and computer vision to quickly create short-form content and highlights from full-length video footage. This technology is gaining popularity among top-tier sports and entertainment content providers across the world. VideoVerse, formerly known as Toch, was established in 2016 and went through the Orbit Startups program in 2020. Since then, the company has expanded to several regions around the world, including North America, Asia, and Europe. VideoVerse collaborates with top rights holders and sports broadcasters worldwide, delivering a highly effective product-market fit to businesses in various sectors. These sectors include OTT players, sports clubs and leagues, marketing agencies, e-gaming platforms, and more.