PANews reported on March 24th, citing TechCrunch, that Mirage, the parent company of the AI ​​video editing app Captions, has completed a $75 million growth-stage funding round, with funds coming from General Catalyst's Customer Value Fund. In recent years, Mirage has rebranded itself as "Captions" as an AI lab focused on developing its own models, targeting industries such as advertising and marketing. It plans to switch to a freemium model in January 2025 to compete with rivals like CapCut and Meta Edits. The company has trained dedicated models for short video pacing and composition, as well as audio models that preserve accents. Captions has been downloaded over 3.2 million times in the past year, generating $28.4 million in in-app revenue and producing over 200 million videos, with approximately 25% of revenue coming from the United States. Mirage plans to integrate its web-based marketing suite with mobile editing tools and will use the new funding for growth and expansion into high-growth markets in Asia.