HeyGen
{{Short description|Avatar-generating machine learning model}}
{{Infobox company
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| logo = HeyGen_Logo.svg
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| industry = Artificial intelligence
| predecessor =
| founded = {{Start date and age|2020}}
| founders = {{Plainlist|
- Joshua Xu
- Wayne Liang}}
| defunct =
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| hq_location_city = Los Angeles, California
| hq_location_country = U.S.
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| website = {{URL|heygen.com}}
}}
{{Artificial intelligence}}
HeyGen is a generative artificial intelligence company that creates photo-realistic avatars via user-submitted photos and videos as well as a library of pre-made avatars and voices.{{cite news |last=Kai |first=Kenrick |title=AI Video Startup HeyGen Launches Near-Instant Avatar Generator, Adds $5.6 Million In Funding |url=https://www.forbes.com/sites/kenrickcai/2023/11/29/ai-video-startup-heygen-launches-near-instant-avatar-generator-adds-56-million-in-funding/ |work=Forbes |date=29 November 2023}} The digital avatar can recite prompts in multiple languages.{{cite news |last=Herrman |first=Josh |title=The Deodorant AI Spokesmodel Is a Real Person, Sort Of |url=https://nymag.com/intelligencer/article/how-an-automated-spokemodel-drove-the-internet-insane.html |work=New York Magazine |date=28 March 2024}}
When submitting content to be used in the generation of a video, users are required to give verbal consent, along with a spoken password to verify their identity. Human moderators are used to remove and block any content used for the purpose of bullying, harassment, and the spread of disinformation,{{cite news |last=Metz |first=Rachel |title=AI Video Startup HeyGen Valued at $500 Million in Funding Round |url=https://www.bloomberg.com/news/articles/2024-06-20/ai-video-startup-heygen-valued-at-500-million-in-funding-round |work=Bloomberg |date=20 June 2024}} in addition to the use of an automated content filter.{{cite news |last=Fried |first=Ina |title=How to create your own personal deepfake |url=https://www.axios.com/2023/09/01/personal-deepfake-ai-video-avatar |work=Axios |date=1 September 2023}}
History
HeyGen (originally named Surreal, later rebranded from Movio){{cite news |last=Le |first=Kelly |title=AI start-up HeyGen raises US$60 million after pivoting away from mainland China investors |url=https://www.scmp.com/tech/tech-trends/article/3267861/ai-start-heygen-raises-us60-million-after-pivoting-away-mainland-china-investors |work=South China Morning Post |date=24 June 2024}} was founded by Joshua Xu and Wayne Liang in 2020. HeyGen established its headquarters in Los Angeles in 2022.{{cite news |last=Olcott |first=Eleanor |title=US tech sector pressures Chinese venture capital to divest |url=https://www.ft.com/content/4fb99b07-159f-4539-8e50-e85d66c585e6 |work=Financial Times |date=6 June 2024}} The company initially raised capital from investors including Sequoia China (now HongShan) and ZhenFund.
The HeyGen app launched in September 2022. In November 2023, the company raised $5.6 million in funding from Sarah Guo’s venture capital firm, Conviction. In exchange for the funding, Guo would replace HongShan’s seat on the board of directors. As of the same date, the company reported employing 25 people.
In 2024, the service was used to translate and lip-sync Argentinian president Javier Milei’s speech to the World Economic Forum.{{cite news |last=Thomas |first=Sean |title=AI just changed the world. Again |url=https://www.spectator.co.uk/article/ai-just-changed-the-world-again/ |work=The Spectator |date=20 January 2024}}
In June 2024, HeyGen raised $60 million in a funding round that valued the company at $500 million. The funding was led by Benchmark, with participation from Conviction, Bond Capital, and Thrive Capital. As of that date, the company reported having more than 40,000 customers and an annualized recurring revenue of $35 million.
In November 2024, HeyGen was recognized by Fast Company as part of the publication’s "Next Big Things in Tech" list.{{cite news |last=Sullivan |first=Mike |title=The 11 next big things in AI and data innovations for 2024 |url=https://www.fastcompany.com/91207410/fast-company-next-big-things-ai-data-2024 |work=Fast Company |date=19 November 2024}} The company was also recognized by Inc. as part of their 2024 "Best in Business" list.{{cite news |title=Best in Business 2024 |url=https://www.inc.com/best-in-business/2024 |access-date=1 March 2025 |work=Inc. Magazine}}