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wevideo-youtubeCloud video editing startup WeVideo has announced that its service will be accessible through YouTube starting today, a move that will give YouTube’s astounding amount of users much better video editing tools free of charge.

WeVideo launched at DEMO Fall 2011 in mid-September and it was one of the most promising and talked-about companies of the conference. Its premise is letting users access a powerful Flash-based video editing application accessible from any browser and eventually it plans to let users access video editing tools from Android devices too.

But today’s YouTube partnership helps show what else WeVideo has been up to. YouTube users will be able to access WeVideo’s editing tools by going to YouTube.com/Create page later today. There, YouTube users can access the free version of WeVideo’s service and edit clips with effects, music, color correction, titles and animations.

WeVideo isn’t the first company we’ve seen intergrate its promising service into YouTube. Automated video editing service Magisto added its “magical” editing tool into YouTube about a month ago. Magisto makes it possible to turn otherwise boring clips into fun shorts with music, whereas WeVideo gives you a lot of control over your final product.

Sunnyvale, Calif.-based WeVideo currently has 15 employees. At launch, the company was self-funded, with its co-founders CEO Jostein Svendsen and CTO Bjorn Rustberggard ponying up a total of $1.4 million. This week, the company grabbed $1.1 million from private European and U.S. investors. The company is also in talks with several large VC firms for a round of funding in the first quarter of 2012.

A short video outlining the integration of WeVideo and YouTube can be viewed below:

http://www.youtube.com/watch?v=yEpLER3cFBI

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