VideoVerse, a video-editing SaaS platform formerly known as Toch.ai, has secured $46.8 million in its Series B round led by A91 Partners, Alpha Wave Global and Binny Bansal, who is former co-founder of Flipkart and a current investor in the company. Other investors include Stride Ventures, Innoven Capital, and Pacific Western Bank amongst others.
The capital raised will be used to strengthen its teams in India and internationally, enhance VideoVerse technology, build newer products and expand its global market share.
In October last year, the startup had raised $12 million in Series A funding from Moneta Ventures, Baring Private Equity India, Binny Bansal and Ventureast among others. Since then, VideoVerse revenue has grown multifold while building out a strong U.S. Tech and Sales team as well as setting up a data science and machine learning team in Israel.
VideoVerse is product-market fit in serving enterprises across numerous industries – OTT players, broadcasters, sports clubs and leagues, marketing agencies, e-gaming platforms, schools, and colleges.
VideoVerse today has offices in the U.S., Europe, Israel and India and according to the company, it is expanding to Singapore and the Middle East by the end of this year.
