HeyGen

HeyGen is an AI-powered video generation platform founded in November 2020 by Joshua Xu and Wayne Liang in Los Angeles. The company offers a suite of tools that allow businesses to create professional-looking videos using artificial intelligence, without the need for cameras, crew, or extensive video editing skills. HeyGen's core technology enables users to generate videos featuring AI avatars that can speak, move, and interact realistically. The platform provides over 100 diverse AI avatars representing various ethnicities, ages, and poses, along with text-to-speech capabilities in more than 300 voices across 40+ languages.

HeyGen's key features include custom avatar creation, voice cloning, talking photo generation, and a library of over 300 customizable video templates. The platform uses advanced AI models for video, integrating large language models from OpenAI and Anthropic for text purposes, and offerings from Eleven Labs for audio. In October 2023, HeyGen reported reaching USD 10 million in annual recurring revenue, which grew to USD 18 million by November of the same year. The company has experienced rapid growth, with a 92% year-on-year increase in website traffic reported in September 2023.

Key customers and partnerships

HeyGen's customer base primarily consists of businesses looking to create marketing, training, and explainer videos efficiently. The platform caters to a wide range of industries, including marketing, e-learning, and content creation. Notable users include small businesses, established enterprises, and content creators on platforms like YouTube and TikTok. In November 2023, HeyGen brought on its first sales representatives to pursue enterprise business contracts, indicating a push toward larger corporate clients. The company has integrated its platform with Zapier, allowing users to connect HeyGen with over 5,000 apps for workflow automation.