Funding Round attributes
Synthesia, a London-based startup specializing in AI-powered avatar technology, has announced the successful closure of a $180 million Series D funding round. The investment elevates the company’s valuation to $2.1 billion. The funding round was led by NEA, with additional participation from WiL (World Innovation Lab), Atlassian Ventures, and PSP Growth, alongside existing investors GV and MMC Ventures. This brings Synthesia's total funding to $330 million to date.
The company, which serves 60,000 enterprises and one million users globally, plans to utilize the funds to expand its workforce, with a particular focus on growth in the Asia Pacific region. Currently, Synthesia’s primary markets are Europe and North America. Additionally, the funding will support ongoing product development as the company seeks to enhance its platform and improve the capabilities of its AI avatars.
Victor Riparbelli, CEO and co-founder of Synthesia, shared insights into the company’s priorities following the funding round. “We’re doubling down on all the things we’re already doing right,” he stated. The company’s roadmap includes developing more realistic avatar motion, enabling avatars to interact with objects for demonstrations, and creating avatars that can engage directly with users. Riparbelli also noted that Synthesia plans to improve user experience by developing “agents” to assist customers in creating avatar-based content more efficiently.
Synthesia's platform leverages text-to-video technology to enable enterprises to create avatar-driven videos for use in sales, marketing, training, and more. While competitors in the AI video space are emerging rapidly, Synthesia focuses exclusively on business applications, setting it apart as a trusted provider for enterprise clients. Notable features of Synthesia’s platform include multi-language support, personal avatars with emotional expressions, and a Chrome extension that converts screen data into basic videos.
The company’s growth and innovation come at a time when AI technologies are attracting significant investment globally. According to PitchBook data, AI startups accounted for over 37% of the $368.5 billion invested in startups worldwide in 2024. Synthesia has been part of this trend, having previously raised $90 million in June 2023 on a $1 billion valuation.
Synthesia has also refrained from pursuing mergers and acquisitions, preferring to develop its technology in-house. It collaborates with third-party providers for specific functionalities, such as ElevenLabs for voice technology, and fine-tunes external large language models instead of building its own. This approach allows the company to focus on its core expertise while leveraging complementary technologies.
The strategic alignment of Synthesia’s offerings with enterprise needs has made it an attractive investment opportunity. Vidu Shanmugarajah, a partner at GV, remarked, “Synthesia is one of only a handful of AI companies that can take real cutting-edge AI and actually translate those into something with real utility. It has extreme customer focus. They are obsessed with driving value in a practical setting.”
The inclusion of Atlassian Ventures in this funding round highlights potential synergies between Synthesia and other enterprise platforms. Synthesia’s focus on safe and compliant solutions aligns with growing corporate demand for reliable AI applications that enhance business efficiency and communication.
The $180 million funding marks a significant milestone for Synthesia as it continues to refine its technology and expand its global footprint, with a clear commitment to delivering innovative and practical AI-driven video solutions for enterprises.
