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U.S. Startup HeyGen Secures $60 Million for AI Video Push

The company has seen its annual recurring revenue (ARR) soar from $1 million to over $35 million in just over a year and has been profitable since Q2 2023.
HeyGen, a startup founded by Joshua Xu and Wayne Liang, specializing in video generation, has announced the successful completion of a $60 million Series A funding round. This latest investment, led by Benchmark with participation from Thrive Capital, BOND, Conviction, and other notable investors, values the company at over $500 million. The funding will support HeyGen's mission to make visual storytelling accessible to all businesses, from small enterprises to Fortune 500 companies.Today's digital age, video content is the most engaging form of visual storytelling. With over 1 billion hours of YouTube videos watched daily and the average person consuming 17 hours of video per week, the demand for high-quality video content is at an all-time high. However, traditional video production meth
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Picture of Abhijeet Adhikari
Abhijeet Adhikari
Abhijeet Adhikari is a Research Associate at AIM-Research, focusing on AI and data science related research reports. Beyond his professional role, Abhijeet is an avid reader with a particular interest in historical and mythological facts, you can reach him at abhijeet.adhikari@aimresearch.co
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