Mirage Lands $75M After Ditching Paid-Only Model
The AI video editing company formerly known as Captions scores big growth funding from General Catalyst.
Mirage just pulled in $75 million in growth financing. The round came from General Catalyst's Customer Value Fund, a dedicated investment vehicle the VC firm uses for scaling bets.
If the name doesn't ring a bell, the product might. Mirage is the company behind Captions, the AI-powered video editing and marketing suite. The company recently rebranded from Captions to Mirage — a bold move when your product already has name recognition.
The funding follows a strategic shift in 2025 when Mirage moved to a freemium model, apparently betting that wider adoption would drive long-term revenue better than gating everything behind a paywall. That bet seems to be paying off, given the size of this raise.
AI video tools are a crowded space. Mirage is clearly banking on its editing and marketing combo to carve out a defensible position with fresh capital behind it.