Total amount raised
$100 Millions
Latest funding date
10/01/2022
Location
Descript has successfully raised significant funding over multiple rounds, establishing itself as a key player in the AI-powered video and podcast editing space. The platform offers a range of innovative tools designed to simplify and enhance the editing process for creators and businesses alike.
Keep reading to explore the intricacies of Descript's fundraising journey and the investors backing this versatile platform.
What Is Descript?
Descript is an AI-powered software tool designed for video and podcast editing. It aims to make video creation faster, easier, and more accessible by leveraging AI for various editing tasks.
Operating within the software and technology industry, Descript simplifies the editing process by making it as easy as editing text documents. It offers a wide range of features including video editing, podcasting, creating clips, transcription, and AI avatars.
Descript is designed to be user-friendly, allowing anyone to create professional-quality videos and podcasts without needing extensive technical skills. The tool is suitable for various use cases including marketing, sales, learning and development, customer support, and content creation.
How Much Funding Has Descript Raised?
- Seed Round
- Amount Raised: $5M
- Date: Dec 2017
- Lead Investors: Andreessen Horowitz
- Series A
- Amount Raised: $15M
- Date: Sep 2019
- Lead Investors: Andreessen Horowitz, Redpoint
- Series B
- Amount Raised: $30M
- Date: Feb 2021
- Lead Investors: Spark Capital
- Series C
- Amount Raised: $50M
- Date: Oct 2022
- Lead Investors: OpenAI
In total, Descript has raised $100M across all funding rounds.
Key Investors
- Andreessen Horowitz
- Details: Andreessen Horowitz, also known as a16z, is a private venture capital firm based in Silicon Valley. It was founded by Marc Andreessen and Ben Horowitz in 2009.
- Investment Focus Areas: Technology, healthcare, fintech
- Notable Investments: Facebook, Airbnb, Slack
- Redpoint
- Details: Redpoint Ventures is a venture capital firm that invests in seed, early, and growth-stage companies. It was founded in 1999 and is based in Menlo Park, California.
- Investment Focus Areas: Consumer internet, enterprise, mobile
- Notable Investments: Netflix, Stripe, Twilio
- Spark Capital
- Details: Spark Capital is a venture capital firm that invests in startups at various stages. It was founded in 2005 and has offices in Boston, New York, and San Francisco.
- Investment Focus Areas: Media, software, fintech
- Notable Investments: Twitter, Oculus, Slack
- OpenAI
- Details: OpenAI is an artificial intelligence research lab consisting of the for-profit OpenAI LP and its parent company, the non-profit OpenAI Inc. It aims to ensure that artificial general intelligence benefits all of humanity.
- Investment Focus Areas: Artificial intelligence, machine learning, robotics
- Notable Investments: Not publicly disclosed
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