Atlassian’s venture capital arm has invested in a $US180 million ($290 million) Series D round for Synthesia, a UK-based start-up that creates AI avatars for workplace communications.
Synthesia’s platform allows users to create AI-generated videos for training, marketing, and customer support, transforming scripts, PowerPoint slides, or datasets into polished content.
The funding round values the seven-year-old company at $US2.1 billion, making it Britain’s most valuable generative AI business.
With over 1 million users across 60,000 clients – including most Fortune 500 companies – the company’s London-based co-founder and CEO, Victor Riparbelli, said the latest fundraising could lead the company to Australia, a key target market.
Synthisia and its AI avatars.
“It’s hard to service these markets effectively from afar, so we’re investing in boots on the ground,” he said.
The pitch? Helping companies bridge language barriers through automated translation and multilingual avatars, unlocking global potential for businesses currently isolated in English-speaking markets.
CEO of Evolved.ai, Dr Michael Kollo, who is not involved in the company has studied the premise and explained the concept to Mediaweek: “The base idea is that when a CEO or an executive is doing a corporate communication, for example, when they are telling staff about a new initiative or something that’s not easy to say, like layoffs, they are often quite scripted in what they’re saying and how they’re saying it.
“So why not automate it? Why not create an avatar that looks like you, with your voice, and from a Zoom call or remote call perspective, looks similar to you,? Then you’re able to just rattle off the information you need, which might be quite legal or formal or controlled anyway, and everybody will be fine with that.”
CEO of Evolved AI Dr Michael Kollo.
For Riparbelli and the rest of the team at Synthesia, it is Australia’s remoteness that makes us such an appealing potential market.
“There’s significant potential in English-speaking markets like the US, UK, and Australia to help businesses expand globally, where speaking multiple languages is essential,” he said.
When pressed on issues of ethics and whether or not using an avatar to fire someone was a ‘good look’ for a company, Dr Kollo said he believes most people would understand the difference between “authentic and engaging communication” and an automated one.
Another Synthesia AI offering.
“If you think about it, when we’re being told by HR about policies or a business update business you don’t expect me two way conversation,” he said. “You don’t expect anything more.”
He went on to add that we are “already at the point where you know the content you get from CEOs about certain topics are very watered down and very muted and sterilised. So this idea of ‘sterilised communication’ will become the realm of AI and automation, non authenticity, non uniqueness.”
Atlassian was joined by NEA, WiL (World Innovation Lab), and PSP Growth in backing Synthesia’s latest funding round, with early supporters GV and MMC Ventures also chipping in.
While Australia is on the company’s radar, Riparbelli admitted a local office isn’t imminent. Synthesia already boasts a global team of over 400 across cities like London, New York, Copenhagen, and Zurich.
Pictured: Synthesia AI