Magisto provides a cloud-based mobile technology service that automatically selects moments from ordinary videos and photos and weaves them together with customized styles and music to create personal movies. The service is accessible across iOS, Android and the Web. The company has surpassed 20 million registered users and is acquiring two million users per month. Magisto recently released CamCrew, a technology for mobile devices on Qualcomm’s Snapdragon chipset that automates more of the video-making process. It has offices in New York and California and is led by CEO Oren Boiman. The company integrated its offering into Odnoklassniki as part of its growth push. Magisto uses artificial intelligence and a simple user experience to automatically select compelling moments and weave them into professional-quality personal movies. The service is available across iOS, Android and the web and is described as the highest-rated video creation app in Google Play and the iOS App Store. Magisto recently launched a redesigned app with new creation and consumption functionality and unveiled technology at DEMO 2013 that converts photo collections into dynamic personal movies using smart photo editing and emotion-sense video editing. The company reports more than 13 million users. The new funding is intended to expand Magisto’s leadership in the emerging category of Video Storytelling and to deepen collaborations with hardware and personal-photography ecosystem partners. Magisto maintains headquarters in Tel Aviv and has offices in New York and California. Magisto offers a cloud-based mobile video editing service that automates editing and adds music to user-shot footage. The company introduced its cloud editing tool in September and launched an iOS app in early January, gaining more than 1 million iPhone users within seven months who produced over 7 million edited videos. Magisto is rolling out an Android app that leverages Android-specific features such as gallery integration and is working with Google to optimize for Android 4.1 (Jelly Bean). Users select clips and a soundtrack, upload videos to the cloud, and receive a finished, shareable video via notification. Finished videos can be shared to Facebook and Twitter or sent via email links. Last year the company raised $5.5 million from Li Ka-shing’s Horizons Ventures, with previous investor Magma Venture Partners participating.

Total raised

$21M

Funding rounds

3

Latest round

Equity

Latest activity

Feb 2014