‍June 20, 2024 Los Angeles, CA

HeyGen, an artificial intelligence startup that lets users quickly create realistic-looking avatars, has raised $60 million in a funding round that values the company at $500 million.

In a statement the company said “Our mission is simple: to help businesses grow by making visual storytelling accessible to all. Whether you work at a small business or an international non-profit or a Fortune 500 company,  if your business has a story to tell, HeyGen can help.” To help us continue to pursue this mission, we’re happy to share that HeyGen has raised $60M in Series A funding, led by Benchmark, with Victor Lazarte joining the board. We’re also proud to partner with new and returning investors including Thrive Capital, BOND, Conviction, Dylan Field, Elad Gil, Aviv Nevo, Neil Mehta, and SV Angel among others.‍

The financing comes during a period of remarkable growth. We have grown from $1M to over $35M in ARR in just over a year and have been profitable since Q2 2023. The financing values the company at more than $500M and is a testament to the hard work and dedication of our team members based in LA, San Francisco, Palo Alto, and Toronto. 

We have also added three executives to help lead the organization through our next phase of growth. Dave King, former CMO of Asana, joins us as our Chief Business Officer. Rong Yan, former VP of Engineering at HubSpot, is our new Chief Technology Officer. And Lavanya Poreddy, formerly of Match Group and Meta, joins us as our Head of Trust and Safety, ensuring that integrity and ethics remain at the core of everything we do.

With this new funding, we’re accelerating our product roadmap to help your team generate even more beautiful and engaging videos, all while doubling down on investments in Enterprise Security, AI Ethics, and Trust & Safety.

SOURCE: http://www.intelligence360.io
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