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Lumify, a new app launching today for the iPhone, is an Instagram-like social experience for video that allows users to share 20-second montages set to music. The free app analyzes video clips from your device’s camera roll, allows you to select soundtrack music from your iPod library, and then automatically creates a “lumified” montage for you. According to one of the developers, former Senior Product Manager at Google and YouTube Kuan Yong, “Lumify is the first mobile app capable of analyzing and editing 1080p HD videos in real-time, entirely on the iPhone.”

Technically, we are ridiculously fast and easy video editing…We use advanced algorithms to mash up your videos in real-time. We highlight the most interesting parts and pair them with music for a 20-second montage…In the end, we want to help you take video in a new way. Just point and capture each moment as it happens. We take care of the rest.

Get it here.