Nvidia-backed AI startup Synthesia raises $180M Series D to revolutionize AI-powered video communications; now valued at $2.1 billion

Less than a year after unveiling its AI avatars that convey human emotions using user text inputs, Nvidia-backed AI startup Synthesia announced on Wednesday that it has secured $180 million in a Series D funding round to advance its AI-powered video platform.

The round was led by NEA and included investments from GV, MMC Ventures, FirstMark, WiL (World Innovation Lab), Atlassian Ventures, and PSP Growth. This brings Synthesia’s total funding to over $330 million, valuing the company at $2.1 billion.

The funding will accelerate Synthesia’s product development, talent acquisition, and global expansion. The company plans to enhance its platform to cater to enterprises in markets such as Japan, Australia, Europe, and North America.

In April 2024, Synthesia introduced “Expressive Avatars,” an AI innovation that conveys human emotions through text inputs. These avatars aim to close the gap between digital and human interaction, offering a unique approach to communication.

Founded in 2017 by CEO Victor Riparbelli, the London-based Synthesia serves over 60,000 businesses and boasts more than 1 million users. Nearly half of the Fortune 500 rely on its AI-driven solutions for internal and external communications. Originally targeting Hollywood with AI dubbing tools for language localization, Synthesia has since shifted focus to enterprise video communication, offering tools for training, marketing, and more.

“This new investment will help us create interactive, real-time, and personalized AI video experiences, which were unimaginable when we started in 2017,” said Riparbelli. “Our platform enables unmatched efficiency and engagement for businesses of all sizes.”

Synthesia’s AI Video Generator is a standout offering, converting text into professional-quality videos, providing a cost-effective alternative to traditional video production. Its tools are widely adopted for corporate presentations and training, with over 60% of the Fortune 100 using its platform.

To address concerns over potential misuse of its technology, Synthesia requires enterprise-level verification for customers and has implemented stringent content moderation practices, including a “Know Your Customer” process akin to banking standards.

“NEA is thrilled to support Synthesia as they redefine AI-powered communication,” said Philip Chopin, Managing Director, NEA UK. “Their traction with enterprise clients, including 60% of the Fortune 100, demonstrates the platform’s effectiveness and the team’s vision.”

With backing from investors like Accel, Kleiner Perkins, and GV, Synthesia continues to shape the future of video content creation, solidifying its role as a leader in AI-powered enterprise communication.