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HeyGen raises $60M in Series A funding led by Benchmark to democratise video creation with AI

PRIVATEJun 21, 2024•almost 2 years ago

Amount Raised

$60 Million

Round Type

series a

Los AngelesVideoArtificial IntelligenceMachine LearningNatural Language Processing

Investors

Sv AngelNeil MehtaAviv NevoElad GilDylan FieldConvictionBondThrive CapitalBenchmark

Description

HeyGen, an AI video generation platform, has raised $60M in Series A funding led by Benchmark, with Victor Lazarte joining the board. The funding will help HeyGen address the challenges of slow, expensive, and complex traditional video production methods by making video creation accessible to all businesses.

Company Information

Company

HeyGen

Location

Los Angeles, California, United States

About

HeyGen is an AI video generation platform that aims to democratize video creation by enabling businesses to create, localize, and personalize studio-quality videos within minutes. The platform also offers the ability to localize existing videos into 175 languages and regional dialects using AI voiceover and lip syncing, preserving the speaker’s natural voice and delivering it with natural lip movement in the target language. HeyGen has experienced significant growth, with an annual recurring revenue (ARR) increasing from $1 million to over $35 million in just over a year. The company is dedicated to empowering businesses of all sizes to leverage the power of visual storytelling.

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Strategic

ML-powered predictions for HeyGen's next move

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

Fundz is a real-time business intelligence platform powered by agentic AI that proactively delivers personalized daily signals — including funding rounds, executive changes, M&A activity, 13F institutional filings, SEC 8-K events, investor activity, and website modifications — based on each user's watchlist and ICP. A trusted data source at firms such as BlackRock, Oracle, Kleiner Perkins, LinkedIn, HubSpot, and Cloudflare, Fundz democratizes the institutional-grade intelligence that previously required a PitchBook or Bloomberg terminal. Features include FundzWatch™ for automated website change detection, Daily Briefing for AI-powered daily briefings, and unified cross-signal alerts across 200,000+ companies.

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