HeyGen

HeyGen was founded by Wayne Liang and Joshua Xu and builds an AI-powered video creation platform designed to make professional video accessible without cameras, crews, or editing skills. Its mission centers on letting anyone turn ideas — scripts, images, presentations, or PDFs — into finished videos featuring lifelike digital avatars and synthesized voices.

The company reached $1 million ARR in March 2023, grew to $10 million by October 2023, and surpassed $35 million within roughly a year, reportedly reaching about $100M ARR in 2025. HeyGen has been profitable since Q2 2023 and, as of May 2025, had served over 85,000 customers globally. It was recognized as G2's #1 Fastest Growing Product of 2025.

HeyGen converts text, images, presentations, and PDFs into finished videos using digital avatars and AI-synthesized speech with matched lip movements. The platform offers 500+ stock digital avatars, custom digital twins so creators can appear as themselves, and voice cloning for personalized narration. Language support ranges from 30+ languages on entry tiers to 175+ languages and dialects on paid plans.

A standout capability is lip-synced video translation, which localizes existing videos so the avatar's mouth movements align with translated audio. Newer features include the Video Agent for one-shot text-to-video generation and progressively more realistic avatar generations such as Avatar IV and beyond. Video export scales up to 1080p on Creator and 4K on Pro plans, with faster processing on higher tiers.

For developers and teams, HeyGen provides an API to generate avatar videos, text-to-speech, and translations programmatically, along with partner integrations for automation and generative workflows. Business plans add multiple seats and secure, scalable collaboration for organizations.

HeyGen serves a broad spectrum from individual creators and marketers to mid-market and enterprise organizations. Common segments include marketing teams producing video content at volume, learning and development teams building training material, localization teams scaling content across languages, sales enablement teams creating personalized outreach, and developers automating video generation through the API.

HeyGen (founded 2020 in Los Angeles by Joshua Xu, formerly Movio) raised a $60M Series A in June 2024 at a $500 million valuation, with investors including Benchmark, Thrive Capital, and BOND — about $69M total funding. The company has grown exceptionally fast, reaching an estimated ~$95M ARR by September 2025 after roughly 1,000% year-over-year growth in 2023-24, driven by its "Instant Avatar" technology that creates custom avatars from a short selfie video. It balances individual creators, SMBs, and a growing enterprise base.