Synthesia, a London-based artificial intelligence video creation platform, has announced a successful Series D funding round, raising $180 million. This investment highlights the rising demand for AI-powered tools that streamline complex processes like video creation. While the platform is widely used by Fortune 100 companies for its efficiency, Synthesia is also gaining traction among small businesses globally. The new funding is expected to further solidify its position in the rapidly growing AI media industry.
What sets Synthesia apart?
Synthesia’s differentiation lies in its enterprise-grade solutions and widespread adoption among major corporations. According to Managing Director Philip Chopin of NEA, the lead investor for this funding round,
“We believe Synthesia’s commitment to enterprise-grade solutions and its impressive traction with customers – 60% of Fortune 100 companies are Synthesia customers – sets the company apart in a rapidly evolving market.”
This credibility has drawn investment not just from NEA but also from prominent backers, including GV, MMC Ventures, and PSP Growth.
How will Synthesia leverage this funding?
The AI company plans to use the funds to accelerate growth, enhance its product offerings, and expand its workforce. Additionally, the platform aims to penetrate new markets in regions such as Japan, Australia, and North America. CEO Victor Riparbelli stated,
“This new investment will help us develop a new generation of AI-powered video experiences that are interactive, real-time, and personalised.”
With over 60,000 businesses already using the platform, Synthesia’s focus remains on delivering efficient and scalable video solutions.
Looking at prior funding rounds, Synthesia has steadily grown its valuation, now reaching $2.1 billion. Earlier versions of the platform laid the groundwork for the recent launch of Synthesia 2.0, which offers new features like customisable AI avatars, multilingual support, and enterprise-grade compliance. Its competitors, however, have yet to match this level of user adoption and enterprise credibility, making Synthesia a standout in the AI video segment.
The funding announcement coincides with the appointment of Peter Hill as Chief Technology Officer. Hill, a former AWS executive, is expected to bring technical expertise to Synthesia’s next phase of innovation. His experience in large-scale tech development aligns with the company’s ambitions to refine and scale its AI video capabilities.
Synthesia has also garnered attention for being the largest generative AI media company in the UK, as noted by Yoram Wijngaarde, CEO of Dealroom.
“Synthesia’s Series D signals that European AI is picking up where they left off in 2024,”
he observed, pointing to the platform’s global influence, particularly in the United States, which contributes to over half of its revenue.
The company’s recent innovations extend beyond video production. In partnership with Humane Intelligence, Synthesia conducted a public red team test to assess the ethical and security dimensions of its AI technology. Such initiatives underline its commitment to responsible AI deployment while maintaining enterprise standards.
Synthesia’s trajectory as an AI leader demonstrates the growing importance of automation in content creation. For businesses aiming to produce engaging, cost-effective training, marketing, and instructional videos, Synthesia presents a viable alternative to traditional methods. Its ability to save production time and expenses continues to attract organizations of all sizes across various industries.
