HeyGen, an AI video startup, has raised $60 million in a Series A funding round. The company is now valued at more than $500 million. The round was led by Benchmark. HeyGen lets companies create, localize and personalize videos without a camera or crew, using virtual avatars. According to the startup, it has been profitable since the second quarter of 2023 and has grown its annual revenue from one million to more than $35 million. Its customers include small businesses as well as Fortune 500 companies. HeyGen plans to use the fresh capital to expand its product offerings and invest in corporate security, AI ethics, trust and safety.
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