Australian software company Atlassian has invested in Synthesia in a US$180 million (A$290 million) capital raising by the enterprise AI-powered video communications platform that also brings in Google’s parent company Alphabet as a shareholder.
Synthesia said the Series D funding ground was led by New Enterprise Associates (NEA), with participation from existing investors including Alphabet’s venture capital arm GV (Google Ventures), MMC Ventures and FirstMark, and new backers including World Innovation Lab, Atlassin's venture capital arm Atlassian Ventures, and PSP Growth.
The company, which was founded in 2017, said the latest funding brought total capital raised to over $330 million, valuing the company at $2.1 billion which, it said, cemented its position as a “pioneer in generative AI for enterprise video communications”.
The funds would fuel the next phase of growth, support product development and talent growth, and drive the expansion of its AI-powered video platform to meet the needs of enterprises in markets including Japan, Australia, Europe and North America.
Synthesia CEO and co-founder Victor Riparbelli said the new investment would help the company develop a new generation of AI-powered interactive, real-time and personalised video experiences.
“I’m excited to bring these experiences to our over 60,000 customers, which range from the world’s largest brands to thousands of small businesses that use Synthesia to communicate internally and externally with unmatched engagement and efficiency," Riparbelli said in a statement.
NEA UK Managing Director Philip Chopin said NEA had a long history of supporting transformative companies, and it was excited to partner with Synthesia as it shaped the future of AI-powered communication.
"We believe Synthesia’s commitment to enterprise-grade solutions and its impressive traction with customers - 60% of Fortune 100 companies are Synthesia customers - sets the company apart in a rapidly evolving market," Chopin said in the statement.