VideoVerse – a leading video-editing SaaS platform has announced its acquisition of Reely.ai, a prominent Esports AI-Powered content creation, and social media distribution company based in the US.
This acquisition aims to enhance VideoVerse's existing capabilities and better serve its customers in the gaming and esports sectors, where the demand for AI-driven content creation and distribution continues to grow. Started in 2016 by Vinayak Shrivastav, Saket Dandotia and Alok Patil, VideoVerse offers AI based video-editing suite for individual content creators and enterprises across industries, including video streaming players, broadcasters, sports clubs and leagues, marketing agencies and online gaming platforms.
Reely.ai has gained industry recognition for its cutting-edge AI technology tailored to gamers and streamers which streamlines video content creation, automates the editing process, and aids in crafting more engaging content. Reely's platform can automatically identify highlights and key moments within a game, simplifying the creation of highlight videos and sharing them across various social media channels. At the backdrop of rising global online gaming market that is projected to reach $431.87 billion by 2030 as per Meticulous Research, VideoVerse is optimistic that its AI prowess and experience with leading global broadcasters and top Sporting fraternities alongside merged capabilities of Reely will help companies in the Esports segment alongside individual streamers enhance audience engagement on their streams and explore better revenue opportunities.
"We are delighted to welcome Reely.ai to the VideoVerse family," said Vinayak Shrivastav, VideoVerse CEO and Co-Founder. "This acquisition is a strategic step towards expanding our offerings and delivering enhanced solutions to our customers in the gaming industry. We are confident that the Reely team's expertise and technology will be instrumental in our continued innovation within the video creation and distribution landscape. Our team is always on the lookout for innovative companies like Reely to help our customers leverage cutting-edge technologies to create engaging content and grow their audiences."
Siddhant Bhandari, Strategy Lead at VideoVerse, added, "Innovation has always been the driving force at VideoVerse, and we are actively seeking out pioneering companies like Reely.ai to ensure we are at the forefront of AI-driven innovation in content creation. The VideoVerse team is excited about the prospect of continuing to enhance our offerings through future acquisitions."
VideoVerse has already started integrating Reely.ai's technology into its existing suite of solutions to expand and improve its capabilities in the gaming market. The company will provide advanced tools to players, streamers, and content creators looking to develop, share, and extend the reach of high-quality video content.
"Joining forces with VideoVerse was an obvious choice," said Daniel Evans, CEO of Reely.ai. "VideoVerse's comprehensive expertise in short-form video creation and distribution, combined with the latest AI and ML technology, pairs perfectly with our real-time gaming solutions. This collaboration will generate immense value for teams and content creators. AI is experiencing a significant moment, and we are eager to merge our advanced video solutions to fuel innovation in the industry."
The terms of the deal were not disclosed.