HeyGen, a Los Angeles, CA-based AI video generation platform for businesses, raised $60M in Series A funding at a $500M post-money valuation.
The round was led by Benchmark with participation from Thrive Capital, BOND, Conviction, Bond Capital, and others. Victor Lazarte from Benchmark has joined the board of directors.
The company, which has raised a total of $74M, intends to use the funds to expand operations and its business reach.
Led by Joshua Xu, CEO, HeyGen is an AI video generation platform that enables businesses to create, localize, and personalize studio-quality videos without a camera, cast, or crew, by typing their script and generate videos for marketing, communications, sales, learning & development, and more. HeyGen also allows users to localize existing videos into 175 languages and regional dialects with AI voice and lip sync.
The company has:
- Over 40,000 paying customers;
- Grown to over $35M in ARR in over a year
- been profitable since Q2 2023
Additionally, HeyGen has added three executives including:
- Dave King, former CMO of Asana, joined as Chief Business Officer.
- Rong Yan, former VP of Engineering at HubSpot, joined as new Chief Technology Officer.
- Lavanya Poreddy, formerly of Match Group and Meta, joined as Head of Trust and Safety.
FinSMEs
21/06/2024