AI Video Creation Startup Synthesia Raises $90M From Investors

Synthesia Ltd, a startup that provides an artificial intelligence platform for video content creation, announced today that it has secured a $90 million funding round.

The series C round was led by Axel. Nvidia Corp. also participated, along with Alphabet Inc.’s GV venture capital division, Kleiner Perkins, FirstMark Capital and MMC. With this investment, Synthesia’s value is valued at his $1 billion.

London-based Synthesia offers a platform that can generate realistic AI-powered avatars for use in videos. The platform offers about 140 pre-built avatars that can read user-specified scripts in over 120 languages. The company says its technology will allow organizations to create content such as employee training videos faster and more cost-effectively than other methods.

The Synthesia interface gives users access to the startup’s avatar generation tools along with a standard set of video editing features. The platform allows you to customize the background behind your avatar using point-and-click controls. For example, a company can create a background featuring their logo or video title.

The platform also offers more advanced editing options. Users can add custom images, videos, and other elements to clips. Companies producing product demonstration videos for their applications can include images that showcase their application’s interface.

Synthesia says its platform is also suitable for various other use cases. Marketers can create promotional clips for him, and customer support teams can create video versions of knowledge base articles. In addition, some customers utilize the platform to create employee training content.

According to Synthesia, the platform is used by more than 50,000 organizations around the world and counts nearly one-third of the Fortune 100 companies as customers. On the occasion of its latest funding round, the company said: CNBC Today, the company is “consistently driving” triple-digit growth in sales, but no absolute numbers are shared.

Synthesia will use the newly raised funding to enhance the platform’s feature set. As part of the effort, they plan to roll out performance optimizations to speed up the platform. AI-generated avatar voices and facial expressions will also be improved.

“We are working on the next generation of avatar technology that will make avatars better in every parameter,” co-founder and CEO Victor Riparberg wrote in a post. blog post.

As part of its long-term development roadmap, Synthesia is collaborating with multiple universities on AI research projects. The startup plans to spend some of its newly raised funding to further these efforts. “Over the next few years, we will evolve avatars to be able to do more than just talk to the camera, and this is a step towards that,” Riparveri elaborated. .

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