London-based Synthesia has secured $180 million (£145.5 million) in a Series D funding round, elevating its valuation to $2.1 billion and making it the UK’s most valuable company in the generative AI sector. Founded in 2017, the company specializes in AI-generated digital avatars designed for corporate communications and training, and its new funding positions it as a leader in this rapidly expanding market.
The Series D round was led by NEA, a prominent American venture capital firm with a history of supporting transformative technology companies. NEA’s Managing Director, Philip Chopin, highlighted the strategic alignment, stating, “Synthesia is shaping the future of AI-powered communication, and we’re excited to help them realize their vision.”
The funding round also included repeat investments from Google Ventures, alongside new backers such as Atlassian Ventures, World Innovation Lab, and PSP Growth. Synthesia has previously raised $90 million in a Series C round in 2023, which featured Accel, NVIDIA’s venture arm, and Google Ventures, achieving a $1 billion valuation at that time.
Synthesia’s primary offering is a platform for creating hyper-realistic AI avatars that replicate human appearance, speech, and body language. Businesses use these avatars to streamline tasks such as employee training, internal communications, and customer engagement. The company provides users with tools to input scripts and select from a diverse range of pre-designed avatars to deliver their messages convincingly.
A key feature of Synthesia’s platform allows customers to create personalized digital doubles. By submitting video footage, users can generate a digital avatar of themselves capable of delivering messages in their likeness. The company emphasizes strict consent protocols to prevent unethical uses, ensuring avatars are created and deployed responsibly.
Last year, Synthesia launched its “expressive avatars,” which incorporate more advanced mimicking of human speech patterns and body language. This development addresses a critical need for lifelike AI representations, especially in professional environments where authenticity and clarity are paramount.
Synthesia’s platform has attracted over 60,000 clients, ranging from small and medium-sized enterprises (SMEs) to large corporations. Notably, 60% of Fortune 100 companies are reported to use Synthesia’s services, underscoring the technology’s broad appeal and effectiveness.
The increasing adoption of AI in corporate communications aligns with broader market trends. According to Gartner, AI-driven business communication technologies are expected to grow by 30% annually, driven by the demand for scalable and personalized solutions. Synthesia’s offerings cater to this demand by reducing production costs and delivery times compared to traditional video production methods.
