Bluestone invests £35.4m in VideoVerse

VideoVerse has received a major investment from Bluestone Equity Partners, a global private equity firm focused on the sports, media and entertainment industry. 

A source familiar with the investment told Broadcast Tech that the investment is approximately $45 million (£35.44m). In addition, Bluestone’s founder and managing partner, Bobby Sharma, will join the VideoVerse board.

VideoVerse’s SaaS software, Magnifi, uses AI and machine learning to turn full-length video footage into short-form content and highlights in real-time for sport, news, and entertainment. This can then be distributed as highlights, social media content, trailers, previews, or more.

Sharma said of the investment, which will be focused on growing the company, “The demand for intelligent software automation of short-form content and highlights is growing exponentially. 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.”

Vinayak Shrivastav, VideoVerse CEO and co-founder, added: “With media companies and streamers now producing millions of hours of video every minute, demand for curated content has skyrocketed. 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.

“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.”

VideoVerse is Bluestone’s third investment from its inaugural $300 million (£236.2m) fund launched in early 2023. Its other investments are casting, live events, and in-person experiences business RWS Global, and live events, data solutions, commercialisation, and technology business PMY Group.

Sabya Das, president and COO of VideoVerse, said: “Bluestone’s capabilities, experience, and focused investment strategy make this the first truly strategic investment in 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.”