Synthesia, the London-based AI avatar and video platform startup, has announced a new funding round of $180 million, raising its valuation to $2.1 billion.
This marks a significant milestone for the company, which has grown rapidly since its inception. Synthesia revealed the news on January 15, emphasizing how far it has come since introducing the world’s first AI avatars four years ago.
The platform now offers a wide range of features, including dubbing, screen recording, translation, collaboration, and AI-assisted video creation, enabling businesses to communicate with greater engagement and efficiency.
The company plans to expand its offerings further this year by integrating large-language models and launching a new AI-powered video player.
Synthesia has also claimed the title of the largest generative AI media company in the UK by valuation, and the second-largest AI firm overall, based on data from Dealroom.
Operating in seven countries and serving customers across industries, the company generates over half of its revenue from the U.S.
Eighteen months ago, Synthesia was valued at just over $1 billion after raising $90 million in a Series C funding round.
Its innovative technology, particularly its “Expressive Avatars,” has revolutionized video production by eliminating the need for cameras, actors, microphones, and extensive editing. This reduces production costs significantly while delivering high-quality, professional results.
Ben Ferguson, COO of Soundscape VR, predicts continued growth in avatar usage across platforms, stating that AI-assisted avatars will become increasingly tailored to specific needs and aesthetics.
Victor Riparbelli, Synthesia’s CEO, noted that the latest funding reflects growing investor confidence in the UK’s AI sector.
He also highlighted the country’s potential to become a global AI superpower, a sentiment tempered by concerns over Europe’s stricter AI regulations, which critics argue hinder startups compared to their Chinese and U.S. counterparts.
