Indian SaaS startup InVideo , which was once on the verge of closure, has made a tremendous comeback thanks to AI technology. The company’s growth had stalled in mid-2021, and despite raising $53 million in funding, it was having trouble scaling. The company’s revenue was stagnant for about 15 months. But in 2022, a new AI-powered video creation platform called InVideo AI was launched, which changed the future of the company. Due to this new product, InVideo has crossed $70 million annual revenue (ARR).
InVideo ‘hacker mindset’ became the secret of its success
According to the company’s co-founder Sankat Shah , InVideo’s turnaround was not just a rescue strategy, but a major change. He said that InVideo AI, launched in August 2023, made a tremendous hold in the market. Shah said, “Our team worked with a ‘hacker mindset’—where people work fast, solve the problem quickly and do not get stuck in long processes.” This approach helped the company to innovate rapidly and bring new features.
InVideo AI became a boon for small businesses
The biggest reason for InVideo’s growth was its usefulness for small businesses and content creators. With the growing demand for video content in social media and digital marketing, InVideo’s AI powered tool was no less than a boon for small businesses. With this, they were able to create high-quality videos in minutes, saving both time and cost. The company’s free and paid model gives users the option to experience first and then pay, due to which its retention rate was very strong.
InVideo continues its global expansion powered by AI
InVideo is now a major customer of leading AI companies globally such as OpenAI, Anthropic, Google and ElevenLabs . However, Sanket Shah admits that the company has still not found its perfect product-market fit (PMF). “We will be at the perfect PMF only when I am sleeping and the company is still growing,” he says. InVideo is now rapidly expanding into new markets, improving its AI capabilities and strengthening its existing user base.
