London-based AI video creation platform Synthesia has raised $90 million in Series C funding to continue using AI to simplify video production.
Valuing the company at $1 billion, the round was led by Accel with investment from NVentures, the venture capital arm of NVIDIA, with participation from existing investors Kleiner Perkins, GV and Firstmark Capital. .
“We have come a long way towards our vision of making video easily accessible to everyone, but we still have a long way to go. We are proud of our team for delivering not just novelty to our customers, but real business utility,” said Victor Riparbelli, Synthesia co-founder and CEO. “Although we weren’t actively looking for new investments, Accel and NVIDIA have transformed traditional video production into digital workflows, enabling creators to bring their ideas to life, from training videos to Hollywood movies, all with just their Synthesia account. We share a vision to make AI research easier.We are delighted to have them on board to further accelerate our AI research efforts.”
Synthesia is an enterprise AI video creation platform that makes video production simple and intuitive, without the need for a camera or studio. Founded in 2017, the company boasts a 456% year-over-year user growth rate, claims more than 12 million videos have been generated on its platform to date, and has reached more than 50,000 businesses worldwide. We have consistently driven triple-digit growth while delivering our services.
“From our first meeting, Synthesia stood out as one of the few generative AI companies that combined differentiated technology, a great founding team, and a very strong ROI for our enterprise customers,” said a partner at Accel. said Philippe Botteri, “By dramatically reducing video costs and production time, Synthesia is pioneering new use cases for corporate training, marketing, and communication videos.The company’s research team is constantly pushing the boundaries of his AI video generation. We are expanding and we couldn’t be more excited about investing in the company. “
Main image: Synthesia founder Steffen Tjerrild, Professor Lourdes Agapito, Professor Matthias Niessner and Victor Riparbelli (Credit: synthesia.io)
