HeyGen Raises $60M in Series A Funding at $500M Valuation
HeyGen is an AI video generation platform that enables businesses to create, localize, and personalize studio-quality videos without a camera, cast, or crew.
Company Name: HeyGen
Location: Los Angeles, CA
Industry: AI Video Generation
Funding Details: 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.
Purpose of Investment: The company intends to use the funds to expand operations and its business reach.
Leadership: Led by Joshua Xu, CEO. Additional executives include Dave King as Chief Business Officer, Rong Yan as Chief Technology Officer, and Lavanya Poreddy as Head of Trust and Safety.
Product: The platform supports the creation of videos for marketing, communications, sales, learning & development, and more. It also allows users to localize existing videos into 175 languages and regional dialects with AI voice and lip sync.
About Company: HeyGen has over 40,000 paying customers and has grown to over $35M in ARR in over a year, being profitable since Q2 2023. HeyGen is an AI video generation platform that enables businesses to create, localize, and personalize studio-quality videos without a camera, cast, or crew.
