On Wednesday, London-based Synthesia, an AI video creation platform, introduced that it has secured a $180M (roughly €174.5M) Sequence D funding spherical led by NEA.
New Enterprise Associates (NEA) is a worldwide enterprise capital agency that invests in expertise and healthcare firms in any respect phases in an organization’s lifecycle, from seed stage by means of IPO.
The VC has greater than $25B in property below administration as of June 30, 2024.
“We imagine Synthesia’s dedication to enterprise-grade options and its spectacular traction with prospects – 60% of Fortune 100 firms are Synthesia prospects – units the corporate aside in a quickly evolving market,” says Philip Chopin, Managing Director, NEA UK.
Others buyers, together with GV, MMC Ventures, FirstMark, and new backers similar to WiL (World Innovation Lab), Atlassian Ventures, and PSP Progress, participated.
The most recent funding brings Synthesia’s complete capital raised to over $330M (roughly €320M), valuing the corporate at $2.1B (roughly €2B).
The corporate will use the funds to gasoline its subsequent section of progress, assist product growth and expertise progress, and increase its progressive AI-powered video platform into a number of markets, together with Japan, Australia, Europe, and North America.
“This new funding will assist us develop a brand new era of AI-powered video experiences which are interactive, real-time, and personalised, providing potentialities we may have solely imagined once we based the corporate in 2017. I’m excited to carry these experiences to our over 60,000 prospects, which vary from the world’s largest manufacturers to hundreds of small companies that use Synthesia to speak internally and externally with unmatched engagement and effectivity,” says Victor Riparbelli, CEO and co-founder of Synthesia.
Appoints new CTO
Apart from funding, the UK firm additionally introduced the appointment of Peter Hill as Chief Know-how Officer.
Hill brings deep technical experience and a confirmed observe report from earlier roles as CEO and CPO at Wildfire Studios, in addition to a 25-year tenure at Amazon and AWS, the place he drove large-scale technical innovation and progress.
Largest generative AI media firm
In keeping with Dealroom, Synthesia is now the most important generative AI media firm within the UK by valuation and the second largest within the total AI class.
The corporate has a worldwide footprint, with places of work in seven nations and prospects throughout many markets and industries, producing simply over half of its income from the USA.
Yoram Wijngaarde, Founder and CEO of Dealroom, says, “Synthesia’s Sequence D alerts that European AI is selecting up the place they left off in 2024. AI startups accounted for over 25 per cent of European enterprise capital final yr, up from 15 per cent simply 4 years in the past. In one of the important technological waves in a long time, Synthesia stands out among the many rising AI unicorns reshaping the panorama from this aspect of the Atlantic.”
Synthesia 2.0
In June 2024, the corporate launched Synthesia 2.0, the world’s first enterprise AI video platform that transforms video manufacturing and distribution for companies.
This platform permits the creation and sharing of AI-generated movies at scale for numerous purposes, similar to coaching, gross sales, buyer assist, and advertising and marketing.
Key options embody:
Customisable AI avatars that talk over 30 languages
AI display screen recorder for straightforward video creation,
AI video assistant
Multilingual video participant,
A video localisation answer
Dwell collaboration
The corporate claims that it meets rigorous enterprise requirements, making certain secure and accountable use of AI expertise. In September 2024, Synthesia turned the world’s first AI video firm to be licensed by A-LIGN as ISO 42001 compliant.
Synthesia can also be the one firm in its class to conduct a complete and public pink staff take a look at of its AI video platform.
The take a look at occurred in October 2024 and was organised by Humane Intelligence, a tech non-profit led by Dr. Rumman Chowdhury, in collaboration with NIST, the US authorities company liable for innovation and industrial competitiveness.
Science, Innovation, and Know-how Secretary Peter Kyle says, “Synthesia’s newest funding is a robust demonstration of how our Plan for Change is encouraging innovation and driving progress within the UK’s thriving AI sector. This funding showcases the arrogance buyers have in British tech, particularly following our newly introduced blueprint for AI, and highlights the worldwide management of UK-based firms in pioneering generative AI improvements. Synthesia’s success story underscores how the UK stays the best place for firms to develop, thrive, and lead the subsequent chapter of the digital revolution.”
Synthesia: Create high-quality movies in minutes
Based by Steffen Tjerrild, Prof. Lourdes Agapito, Prof. Matthias Niessner, and Victor Riparbelli in 2017, Synthesia’s platform permits any enterprise consumer, from HR managers to entrepreneurs, to simply create high-quality tutorial movies that includes inventory or customized AI avatars.
Synthesia claims that its purchasers report as much as 95 per cent financial savings in manufacturing time. This quantities to hundreds of {dollars} in lowered prices and elevated engagement from their staff and prospects.
Over 1 million customers throughout 60,000 companies use Synthesia’s expertise to create coaching, tutorial, and product advertising and marketing movies in minutes.
Presently, the corporate employs over 400 folks throughout its places of work in London (the place it’s headquartered), New York, Copenhagen, Amsterdam, Zurich and Munich.
