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In 2010, the company received more than $5.5 million in Series A round and B venture round funding from Magma Venture Partners and Horizons Ventures. In April 2019, the company was acquired by Vimeo, the IAC-owned platform for hosting, sharing and monetizing streamed video, for an estimated US$200 million. In July 2015, Magisto released an editing theme dedicated to musician Jerry Garcia, endorsed by his daughter Trixie. In January 2015, Magisto participated in a statistical analysis on the habits of smartphone users in conjunction with Gigaom. In October 2014, Magisto was placed 9th on the 2014 Deloitte Israel Technology Fast 50 list, as one of the fastest-growing technology companies, and was named as a finalist in the Red Herring's Top 100 Europe award.
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In the same month Magisto also launched a new feature for iOS and Android users, called ‘Surprise Me’ which creates video from still photographs on users’ smartphones. In September 2014 Magisto rolled out a new feature called, ‘Instagram Ready’ which allows users to upload 15 second clips that are automatically formatted for Instagram. The company also confirmed investment from Russian internet company, Mail.Ru Group. In February 2014 Magisto claimed that they had 20 million users, with 2 million new users per month. In September 2013, the company claimed that 10 million users had downloaded the App. Google listed Magisto as an "Editors’ Choice" on its list of "Best Apps of 2013".

On March 7, 2013, Magisto claimed 5 million users.

On September 13, 2012, Magisto launched a Google Chrome App and announced Google Drive integration. On August 28, 2012, Magisto launched the Android app on Google Play. At CES, the company was also declared winner of the 2012 CES Mobile App Showdown. The Magisto iPhone app was launched publicly at the 2012 International Consumer Electronics Show (CES) in Las Vegas. On the following day Magisto was added to YouTube Create's collection of video production applications.
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Magisto was launched publicly on September 20, 2011, as a video editing software web application through which users could upload unedited video footage, choose a title and soundtrack and have their video edited for them automatically. Boiman was frustrated with the amount of time it took editing together videos of his daughter and wanted to design an easy to use application to capture and share videos without the time-consuming process of video editing. Magisto was founded in 2009 as SightEra (LTD) by Dr.

The music, largely by independent artists, is sorted by mood and is licensed for in-app use. The Magisto app contains a library of music for users to utilize in their video creations. Some similar applications are Videolicious, WeVideo, InVideo, Animoto, Powtoon, and Clipchamp. As smartphones and consumer video recording devices become more prevalent the need for an easier video solution has led to a renewed interest in automatic video editing. Other solutions, including Sony's MovieShaker and Roxio Cinematic, followed in 2002. Muvee Technologies introduced autoProducer, the first PC-based automatic video editing platform, in 2001.
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Automatic video editing technology does the work for the user, eliminating the need for a deeper understanding or knowledge of how to use complicated video editing software. Automatic video editing Īutomatic video editing products have emerged over the past decade in order to make video editing accessible to a broader consumer market. These scenes are then edited together, along with music and effects, into more watchable, share-worthy clips. The system recognizes faces, animals, landscapes, action sequences, movements and other important content within the video, as well as analyzing speech and audio. Through his work, Boiman developed a number of patent-pending image analysis technology that analyzes unedited videos and identifies the most interesting parts, which became the basis of the Magisto apps. Oren Boiman, a computer scientist that graduated from Tel Aviv University followed by graduate work in computer vision at Weizmann Institute of Science.
