Artificial intelligence startup Rephrase.ai raises $10.6 million in funding led by Red Ventures

Rephrase.ai, an Artificial intelligence (AI) startup, said on Friday it has raised $10.6 million in funding led by Red Ventures. Existing investor Silver Lake also participated in the round along with 8VC and other investors.

The startup will use the funds to enhance its capabilities by integrating product experiences; scaling hiring across the business, including within the engineering, AI, product, sales, and marketing teams; and expanding its presence in North America.