On March 24, according to TechCrunch, Mirage, the developer of the video editing application Captions, has secured $75 million in growth funding from General Catalyst's Customer Value Fund (CVF). Over the past year, the startup has made significant adjustments to its product and corporate positioning. The company has rebranded from Captions to Mirage to position itself as an artificial intelligence laboratory focused on developing different models and serving industries such as advertising and marketing. Concurrently, the company has trained a model specifically tailored for the pacing, composition, and attention distribution of short-form videos. The company also transitioned to a "freemium" business model in January 2025 to better compete with applications like CapCut and Meta's Edits (the latter launched later that year). Currently, Mirage also offers a suite of video creation tools that incorporate some of Captions' functionalities, enabling businesses to create and distribute video content in bulk.