VideoVerse’s platform drives real-time short-form video creation & highlights for leading sports, news & entertainment rights-holders and content creators around the world.
Bluestone Equity Partners, a global private equity firm focused on the Sports, Media & Entertainment industry, announced a growth investment in VideoVerse, the company behind Magnifi, an internationally-acclaimed AI-powered video editing solution.
VideoVerse’s Software as a Service (SaaS) platform leverages Artificial Intelligence (AI) models, computer vision, and Machine Learning (ML) to transform full-length video footage into short-form content and highlights in real-time for leading rights-holders and content creators around the world. VideoVerse’s flagship product, Magnifi, streamlines traditional labor, time, and cost-intensive editing processes through cloud-based AI-driven analysis, empowering hundreds of sports leagues, news & entertainment broadcasters, and streaming platforms around the world to quickly and easily curate, edit, and distribute short-form content and highlights. Earlier this year, Magnifi earned the coveted National Association of Broadcasters (NAB) “Product of the Year” award.
“With media companies and streamers now producing millions of hours of video every minute, demand for curated content has skyrocketed,” said Vinayak Shrivastav, VideoVerse CEO & Co-Founder. “VideoVerse’s editing solutions are now an indispensable asset within the video creation ecosystem, with Magnifi, in particular, facilitating a seamless and highly-efficient process for curation, production, and distribution,” Shrivastav highlighted. “Our partnership with Bluestone marks an exciting phase as we forge ahead with global expansion, and driving innovation in the realm of media technology by unlocking the boundless potential of AI.”
Also Read: SolarWinds Showcases Latest Observability Enhancements At AWS re:Invent 2023
“The demand for intelligent software automation of short-form content and highlights is growing exponentially,” said Bobby Sharma, Bluestone’s Founder & Managing Partner. “The applications for VideoVerse’s technology are limitless, extending across Sports, Media & Entertainment, and into other industries, such as education and security. Today, rights-holders and content creators sit on mountains of raw content, and consumers want the ability to watch short-form content and highlights as soon as a play is over, or when news breaks. With Magnifi’s market-leading AI technology and a suite of supporting SaaS technologies, VideoVerse meets this demand in terms of quality and efficiency, unlike any other company in the marketplace. We’re excited to help VideoVerse take the next step on its journey to revolutionize the curation and monetization of next generation video and media.”
Headquartered in California, USA and Mumbai, India, VideoVerse works with top-tier sports leagues & teams, broadcast networks, and content producers, such as: the UEFA Champions League, FA Cup, Bundesliga, Australian Open, U.S. Open, Wimbledon, NCAA Basketball, Indian Premier League (IPL), Women’s Premier League (WPL), NCAA Basketball, and various U.S. collegiate sports programs at major universities and athletic conferences.
VideoVerse marks the third investment for Bluestone, and its first in a SaaS company, from its inaugural $300 million fund launched in a single closing during the first quarter of 2023. Bluestone is differentiated in the Sports, Media & Entertainment capital markets by its unique combination of blue-chip industry operating and investment experience, expansive international network, stable institutional capital base, and collaborative synergistic approach with portfolio companies. In connection with this investment, Bluestone’s Sharma will join VideoVerse’s Board of Directors, helping to drive its global growth.
“Bluestone’s capabilities, experience, and focused investment strategy make this the first truly strategic investment in VideoVerse,” said Sabya Das, President & COO of VideoVerse. “Their deep operating experience in Sports, Media & Entertainment, relevant financial expertise with growth stage companies, and strong global network provide unique vision and insight into the sectors we serve, making them an ideal choice to partner with to help take VideoVerse to the next level.”
SOURCE: BusinessWire
