InVideo, a SaaS startup, has reached $70 million in annual recurring revenue (ARR) following a strategic pivot to an AI-powered product, InVideo AI. After raising $35 million, the company, which was on the brink of shutting down by mid-2021, launched InVideo AI in mid-to-late 2022. This new product, leveraging technology from OpenAI, Anthropic, Google, and ElevenLabs, has been crucial in overcoming a period of stagnant growth and establishing a strong global presence. Despite this success, InVideo's founder, Sanket Shah, believes the company has yet to achieve its ideal product-market fit (PMF). Shah aims for a state where the company can grow autonomously, indicating a focus on further refining the AI offering, expanding the customer base, and scaling efficiently without the immediate need for new funding.