[AI Video Editing App Captions' Parent Company Mirage Secures $75 Million in Funding] According to TechCrunch, AI video editing app Captions' parent company Mirage has completed a $75 million growth-stage funding round, with capital coming from General Catalyst's Customer Value Fund. In recent years, Mirage has rebranded from the 'Captions' brand to focus on being an AI lab dedicated to self-developed models, targeting industries such as advertising and marketing. The company plans to transition to a freemium model in January 2025 to compete with rivals like CapCut and Meta Edits. Mirage has developed specialized models for short video pacing and composition, as well as audio models capable of preserving accents. Over the past year, Captions has been downloaded more than 3.2 million times, generating $28.4 million in in-app revenue and producing over 200 million videos, with approximately 25% of its revenue coming from the U.S. Mirage plans to integrate web-based marketing suites with mobile editing tools and will use the new funding to drive growth and expand into high-growth markets in Asia.