Synthesia Secures $180M in Series D Funding
Deal News | Jan 16, 2025 | Goodwin
Synthesia, a leading AI enterprise video communications platform headquartered in London, has successfully raised $180 million in a Series D funding round. This recent infusion of capital was led by NEA (New Enterprise Associates) and WiL (World Innovation Lab), supported by existing investors like GV and MMC Ventures, as well as Atlassian Ventures and PSP Growth. The funding increases Synthesia's total capital raised to over $330 million, and the company is now valued at $2.1 billion. Synthesia provides video communications solutions using AI avatars and is used by over 1 million users from 60,000 businesses, including more than 60% of the Fortune 100. NEA, a key investor, manages assets exceeding $25 billion and focuses on investments across the technology and healthcare sectors at all company stages. WiL targets growth-stage companies with ambitions to expand into new markets. This transaction was facilitated with the legal assistance of a cross-border UK and US Goodwin team. The NEA deal team included professionals like Andrew Davis and Lucy Thomas in the UK, while the WiL team included John Casnocha in the US.
Sectors
- Technology
- Venture Capital
- Artificial Intelligence
Geography
- United Kingdom – Synthesia is headquartered in London, making the UK a key geography for the company.
- United States – NEA and WiL, two major participants in the funding round, are based in the US, highlighting its importance in this transaction.
- Japan – WiL, one of the investors, is based in both the US and Japan, indicating a geographical investment from Japan as well.
Industry
- Technology – Synthesia operates in the technology sector, providing AI-driven enterprise video communications solutions. Both NEA and WiL invest primarily in technology firms.
- Venture Capital – The article details a Series D funding round led by venture capital firms NEA and WiL, which specialize in investing in technology and growth-stage companies.
- Artificial Intelligence – Synthesia specializes in generative AI for enterprise video communications, making AI a core component of their industry operations.
Financials
- $180 million – The amount raised by Synthesia in its Series D funding round.
- $2.1 billion – The valuation of Synthesia following the Series D funding round.
- $330 million – The total capital raised by Synthesia after the Series D funding round.
- $25 billion – The assets under management by NEA as of June 30, 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Synthesia | Target Company | Company | Synthesia is a leading AI video communications platform used by over 60,000 businesses and headquartered in London. |
| NEA (New Enterprise Associates) | Investor | Company | A prominent venture capital firm investing across all stages of a company's lifecycle in the technology and healthcare sectors. |
| WiL (World Innovation Lab) | Investor | Company | A US and Japan-based venture capital firm investing in growth-stage companies across various sectors. |
| Atlassian Ventures | Investor | Company | Participated in Synthesia's Series D funding round. |
| PSP Growth | Investor | Company | Participated in Synthesia's Series D funding round. |
| GV | Previous Investor | Company | Formerly Google Ventures, one of the existing investors in Synthesia. |
| MMC Ventures | Previous Investor | Company | A venture capital firm that had previously invested in Synthesia. |
| Goodwin | Legal Advisor | Company | An international law firm providing legal advice on NEA and WiL's investment into Synthesia. |
| Andrew Davis, Elizabeth Rhodes, Lucy Thomas, Ciara Kendall, Hattie Muncey, Folakemi Dele-Adeniyi | UK NEA Team | People | Members of the UK NEA deal team involved in the transaction. |
| John Casnocha, Matthew Pelnar, Mira Pranav | US WiL Team | People | Members of the US WiL deal team involved in the transaction. |