VideoVerse is a software-as-a-service platform that just acquired Reely.ai, a company specializing in AI-powered video creation and editing. With the acquisition, VideoVerse gets access to Reely.ai’s technology tailored specifically to gamers, streamers and e-sports and gaming outlets in order to streamline video content creation, automate editing and surface the best moments. The transaction price was not released.
Vinayak Shrivastav, CEO of VideoVerse, said in a statement that they are very pleased with the transition, noting that they are “confident that the Reely team’s expertise and technology will be instrumental in our continued innovation within the video creation and distribution landscape.” He also added that the team is always on the lookout for innovative companies.
Daniel Evans, CEO of Reely.ai, stated that the VideoVerse team was enticed by how they filled a gap with sports video editing, as well as their existing relationships with publishers and gaming developers. He added that their goal is to help studios get their content out to the community and that they have been working on using AI to automate the creation of real-time video clips.
Reely.ai was founded in 2016, and Evans was an addition in 2020. After pivoting from sports to gaming and e-sports, their specialty is using AI to identify highlights and extract metadata. Furthermore, their platform works to fully automate the process of creating and sharing highlight videos across social media channels.
Siddhant Bhandari, the strategy lead for VideoVerse, mentioned that the acquisition has been instrumental in furthering their ability to provide enhanced services and solutions to customers in the gaming market. Furthermore, the team is exploring novel possibilities with Reely.ai, as AI technology is experiencing immense growth.
Evans noted that everyone is leaning towards generative AI, which has been the focus of their attention in order to help gamers share their best moments and extend their reach.
Overall, VideoVerse is taking full advantage of their acquisition by integrating Reely.ai’s advanced technology into their platform and providing the best tools to gamers and content creators looking to produce and finalize high-quality video content.
