The funding round follows just 12 months after Synthesia's last funding round.
One of the UK’s most hyped AI startups has nearly doubled its valuation to $4bn in just 12 months, following a $200m funding round.
The $200m Series E funding round in Synthesia was led by existing investor Google Ventures, Google’s VC arm, with participation from Evantic, the venture fund founded by former Sequoia partner Matt Miller, and Hedosophia.
Other existing investors NVentures, Nvidia’s VC arm, Accel, Kleiner Perkins, New Enterprise Associates (NEA), PSP Growth, Air Street Capital, and MMC Ventures, also participated. As part of the deal, Synthesia, which makes AI-powered corporate videos, is allowing employees to sell a percentage of their shares through a partnership with Nasdaq.
Synthesia, founded in 2017, has become something of a talismanic company in the UK’s burgeoning AI scene. It was last valued at $2.1bn in January last year, following a $180m funding round.
The startup develops digital avatars which are deployed for corporate clients, such as to help explain health and safety in the workplace. The startup plans to use the funds on building new interactive AI agents for companies to use for employees and marketing videos, according to The Times. Synthesia’s customers include SAP and Microsoft.
Headquartered in London, Synthesia also has offices in New York, Munich and Zurich.
Victor Riparbelli, Synthesia’s co-founder and CEO, said: “Synthesia was founded on two core beliefs: first, that AI will bring the cost of content creation down to zero. And secondly, that AI video provides a better, more engaging way for organisations to communicate and learn.
“This funding round is about scaling that vision. We see a rare convergence of two major shifts: a technology shift with AI Agents becoming more capable, and a market shift where upskilling and internal knowledge sharing have become board-level priorities.
“We intend to build the defining company at that intersection, by combining our know-how in AI video with our ability to build and integrate AI technologies into products and services that solve real business needs.”