AI video generation platform Synthesia has secured a $90 million Series C funding round to further its work in AI video production. The company enables organizations to create simple and intuitive videos without the need for cameras or studios. Founded in 2017, Synthesia lets users create AI-generated avatars that emulate real people, in over 120 languages. This way, companies can save time and money on production and increase employee and customer engagement.
“We’ve made great strides toward our vision to make video easy for everyone, but there’s still a long way to go. I’m proud of our team for building Synthesia into a sustainable company that delivers real business utility, not just novelty, for our thousands of customers. While we weren’t actively looking for new investment, Accel and NVIDIA share our vision for transforming traditional video production into a digital workflow that will enable creators to bring their ideas, from training videos to Hollywood films, to life with only a Synthesia account. I’m delighted to have them on board as we accelerate our AI research efforts,” said Synthesia Co-founder and CEO Victor Riparbelli.
The latest round, led by Accel with investment from NVentures, NVIDIA’s venture capital arm, values the company at $1 billion. The funds will allow Synthesia to develop its cutting-edge AI further, particularly expressions, natural movements, and simple customization options. In its recent blog post, the company also teased upcoming features like real-time collaboration, audit logs, two avatars on screen, and more.
"The transformative power of generative AI is providing new capabilities to a broad range of industries. Synthesia is doing breakthrough work bringing these tools to enterprise video production, helping to enable a future where anyone can generate studio-grade videos without the physical barriers of cameras or microphones," said Mohamed "Sid" Siddeek, Head of NVentures, NVIDIA.
Synthesia's customer base includes Fortune 100 brands like Tiffany’s, IHG, Moody’s Analytics, and entities of the United Nations.
The company is also a launch partner of the Partnership on AI (PAI) on Responsible Practices for Synthetic Media, the first industry-wide framework for the ethical and responsible development, creation, and sharing of synthetic media.
