HeyGen ARR at $35M
Jun 20, 2024
HeyGen, an AI video generation platform, has announced a $60 million Series A funding round led by Benchmark, valuing the company at over $500 million.
The company aims to make visual storytelling accessible to businesses by allowing them to create, localize, and personalize studio-quality videos without traditional production methods.
HeyGen has grown from $1 million to over $35 million in Annual Recurring Revenue (ARR) in just over a year and has been profitable since Q2 2023.
The platform enables businesses to generate videos for marketing, communications, sales, and learning & development in minutes, as well as localize existing videos into 175 languages with AI voice and lip sync.
HeyGen has added three new executives to its leadership team: Dave King as Chief Business Officer, Rong Yan as Chief Technology Officer, and Lavanya Poreddy as Head of Trust and Safety.
The company serves over 40,000 paying business customers globally, including small businesses, global non-profits, and Fortune 500 companies.
HeyGen plans to accelerate its product roadmap, focusing on enhancing features such as Avatar Video, Video Translation, Personalized Video, and Streaming Avatar.