Mirage (formerly Captions) raised $75M from General Catalyst's CVF, pushing total funding past $175M...
The AMW Read
This is an incremental funding update for Mirage (Captions) that highlights the structural trend of vertical AI players moving toward proprietary foundation models to avoid third-party API dependency.
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Mirage (formerly Captions) raised $75M from General Catalyst's CVF, pushing total funding past $175M. The startup is evolving from a 10M+ user video editing app into a full-stack AI video lab building proprietary foundation models. This revenue-validated round underscores a key trend: vertical AI companies are investing in custom model infrastructure over relying on third-party APIs. With $175M+ in capital, Mirage is positioning itself as a platform play in the enterprise AI video generation market.