AI video startup HeyGen raises $60 million at $440 million valuation

Benchmark is investing $60 million in HeyGen, an AI video startup with a valuation of $440 million. This is six times HeyGen's valuation four months ago, reports The Information. The startup, which was founded in China and is now based in Los Angeles, uses AI to create avatars with lip-synced voices. According to The Information, the startup has annual revenue of more than $20 million, up significantly from $1 million a year ago. HeyGen targets business customers and competes with other AI video startups such as Synthesia and Runway. The three-year-old company has ties to Chinese investors, which has raised national security concerns among U.S. officials. HeyGen is reportedly trying to distance itself from its Chinese backers.