UK AI startup Synthesia has almost doubled its valuation to $4bn after raising $100m in a funding round led by Greenoaks Capital, a US investment firm.
The company, which creates AI-generated corporate videos featuring avatars, said the new funding would be used to accelerate product development and expand its global sales and marketing teams.
Synthesia’s technology allows users to create videos by typing text, which is then spoken by AI avatars in multiple languages. The platform is used by companies for training, marketing, and internal communications.
Founded in 2017, Synthesia has grown rapidly, with its software now used by thousands of businesses worldwide. The startup’s valuation was $2.3bn in its previous funding round in 2022.
CEO Victor Riparbelli said the new investment would help the company meet growing demand for AI video content and continue innovating in the space.
“We’re excited to partner with Greenoaks and other investors to build the future of video creation,” Riparbelli said.
The funding round also included participation from existing investors such as Firstminute Capital and MMC Ventures.
As AI-generated content becomes more prevalent, companies like Synthesia are at the forefront of transforming how businesses communicate and engage with their audiences.
