| Developers: | Synthesia |
| Date of the premiere of the system: | June 2023 |
| Branches: | Information Technology |
2023: Service Launch
In mid-June 2023, Synthesia launched a service for creating avatars. The platform supports about 120 languages, including Russian. It allows you to create virtual copies of a person, including for presentations and online training.
Synthesis Labs uses both the capabilities of generative [[|AI]] and VFX pipelines when creating models, the company said. The tool is now based on the Synthesis AI data library, which houses over 100,000 digital people options.
Synthesia is founded by a team of AI researchers and entrepreneurs from University College London, Stanford, the Technical University of Munich and Cambridge. In 2023, Synthesia employs about 200 people and more than 50 thousand customers. The team is developing AI technology to allow customers to create training videos using stock or custom AI avatars.
Synthesia's clients include Tiffany's, IHG, Teleperformance, BSH, Moody's Analytics and United Nations entities. According to Synthesia, 35% of Fortune 100 companies use the startup's products for training and marketing purposes (by June 2023).
On June 13, 2023, Synthesia announced the raising of $90 million in Round C led by Accel with strategic investments from Nvidia and the participation of Kleiner Perkins, GV, Firstmark Capital and MMC. As a result of this round, the total amount of investment attracted by Synthesia reached $156.6 million, and the cost of the startup after the completion of the round is $1 billion. For comparison, back in December 2021, Synthesia was estimated at only $300 million.
Co-founder and CEO Victor Riparbelli told TechCrunch that Synthesia is a sustainable business and has not sought additional investment, but Accel and Nvidia have reached out to Synthesia with a compelling offer. As avatars improve, they believe, they promise to provide more personalized digital marketing and training while reducing the costs typically associated with video production. Riparbelli said that the investment from the C series will be aimed at making Synthesia avatars more expressive, and the Synthesia platform faster and more compatible with other services. According to Riparbelli, the company does not disclose revenue data, but Synthesia has an annual user growth of 456% and more than 15 million videos created on the platform as of June 13, 2023.[1]
Notes
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