Synthesia, an artificial intelligence (AI) video platform for enterprises, has raised £147m ($180m) in a Series D funding round, boosting its valuation to $2.1bn.
The round was led by NEA, with participation from existing investors GV, MMC Ventures, and FirstMark, alongside new backers WiL (World Innovation Lab), Atlassian Ventures, and PSP Growth.
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This latest investment brings Synthesia’s total capital raised to more than $330m.
London-based Synthesia’s platform uses generative AI software to create avatars for various enterprise video content purposes.
Founded in 2017, Synthesia plans to use the investment to drive growth in product development and talent acquisition.
The company also aims to expand its AI video platform across markets in Japan, Australia, Europe, and North America.
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By GlobalDataSynthesia CEO and co-founder Victor Riparbelli said: “This new investment will help us develop a new generation of AI-powered video experiences that are interactive, real-time, and personalised, offering possibilities we could have only imagined when we founded the company in 2017.”
NEA UK managing director Philip Chopin said: “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.”
Concurrently, Peter Hill has been appointed as Synthesia’s chief technology officer.
Hill’s background includes roles as CEO and CPO at Wildfire Studios and a 25-year tenure at Amazon and AWS.
In June 2024, Synthesia announced the development of Synthesia 2.0.
The platform has features such as custom AI avatars, an AI screen recorder, document-to-video conversion, a multilingual video player, 1-click video localisation with dubbing, and live collaboration for video editing.
Previously, in June 2023, the company raised $90m in a Series C funding round.
Investors in this round included NVIDIA’s venture capital arm, NVentures, and existing investors Alex Wang, Amjad Masad, Firstmark Capital, GV, Kleiner Perkins, and Olivier Pomel.
