Synthesia, an AI video creation platform for enterprises, has become the UK’s most valuable generative AI company after raising £146m million in Series D funding.
The London company – a regular on our MediaTech 50 ranking – aims to make video production simple and intuitive, without the need for cameras or studios. An avatar created on the platform is featured in the main image above.
The round was led by NEA, with participation from existing investors including GV, MMC Ventures and FirstMark, and new backers including WiL (World Innovation Lab), Atlassian Ventures, and PSP Growth.
Synthesia also announced the appointment of Peter Hill as chief technology officer. Hill’s previous roles have included two years as CPO then CEO at Brazilian mobile gaming unicorn Wildfire Studios following a 25-year tenure at Amazon and AWS.
Synthesia became a unicorn – a tech company valued at more than $1bn – in 2023. The latest funding brings its total capital raised to over $330m, valuing the company at $2.1bn, and will help it to grow in several markets including Japan, Australia, Europe and North America.
According to Dealroom, Synthesia is now the largest generative AI media company in the UK by valuation, and the second largest in the overall AI category. The company has a global footprint, with offices in seven countries and customers across many markets and industries, generating just over half of its revenue from the United States.
It now employs over 400 people across its offices in London, New York, Copenhagen, Amsterdam, Zurich and Munich.
“This new investment will help us develop a new generation of AI-powered video experiences that are interactive, real-time, and personalized, offering possibilities we could have only imagined when we founded the company in 2017,” said Victor Riparbelli, CEO and co-founder of Synthesia.
“I’m excited to bring these experiences to our over 60,000 customers, which range from the world’s largest brands to thousands of small businesses that use Synthesia to communicate internally and externally with unmatched engagement and efficiency.”
Philip Chopin, managing director at NEA UK, added: “NEA has a long history of supporting transformative companies, and we’re excited to partner with Synthesia as they shape the future of AI-powered communication.
“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.”
Aki Jiang and Clifford Cohn, principals at WiL, added: “We believe Synthesia has the potential to significantly impact industries around the globe, and we are already seeing much excitement from our corporate partners in Japan.”