Global private equity firm Bluestone Equity Partners, which specialises in the sports, media, and entertainment sector, has announced a growth investment in VideoVerse, the business that created the highly regarded AI-powered video editing app Magnifi.
VideoVerse’s SaaS platform uses AI models, computer vision, and ML to turn full-length video footage into short-form content and highlights in real time for key rights-holders and content providers worldwide.
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“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.”
Magnifi, VideoVerse’s flagship product, uses cloud-based AI-driven analysis to help hundreds of sports leagues, news & entertainment broadcasters, and streaming platforms worldwide curate, edit, and distribute short-form content and highlights. Magnifi won the NAB “Product of the Year” award earlier this year.
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“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.”
Located in California and Mumbai, India, VideoVerse works with top sports leagues and teams, broadcast networks, and content producers, including the UEFA Champions League, FA Cup, Bundesliga, Australian Open, U.S. Open, Wimbledon, NCAA Basketball, IPL, WPL, and various U.S. collegiate sports programmes at major universities and athletic conferences.
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“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.”
Bluestone’s third investment and first in a SaaS firm is VideoVerse, from its $300 million fund announced in a single close in Q1 2023. Bluestone stands out in the Sports, Media & Entertainment capital markets with its blue-chip industry operational and investing experience, extensive worldwide network, stable institutional capital base, and synergistic approach with portfolio firms. After this investment, Bluestone’s Sharma will join VideoVerse’s Board of Directors to help it grow globally.
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About VideoVerse
VideoVerse is building the next-generation video editing ecosystem, addressing a broad range of use cases in the post-production process. Working with leading rights holders and sports broadcasters globally, VideoVerse’s extremely strong product-market fit serves enterprises across numerous industries – OTT players, broadcasters, sports clubs and leagues, marketing agencies, e-gaming platforms and more. VideoVerse has offices in the U.S., Europe, and India.
