Synthesia secures $90m for AI video creation platform
Synthesia, a London-based technology company, has recently secured $90 million in a Series C funding round led by venture capitalist firm Accel, with investments from NVIDIA’s venture capital arm, NVentures, and existing investors Kleiner Perkins, GV, Firstmark Capital, Alex Wang, Olivier Pomel, and Amjad Massadr. The funding round has valued the company at an impressive $1 billion. Synthesia aims to use the funds to further develop its AI video creation platform, making video production simpler and more intuitive for its users.
Since its inception in 2017, Synthesia's AI video creation platform has allowed all enterprise users from HR managers to marketers to create bespoke videos featuring stock or custom AI avatars.
Notably, the platform has already been adopted by over 50,000 businesses and organizations across the globe, including 35% of the Fortune 100, to create videos ranging from training, instructional, and product marketing videos in a matter of minutes. The company now has a workforce of over 200 employees globally.
The CEO of Synthesia, Victor Riparbelli, has conveyed his elation at the success of the funding round, expressing that the company is excited about continuing its efforts to make video production more intuitive for its users. The huge investments made by its backers speak to Synthesia's strong commitment to revolutionizing this market through the implementation of cutting-edge technologies in AI video creation. It remains to be seen what the future holds for Synthesia, but with the company's strong track record so far, the future is certainly looking bright.
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