AI-powered enterprise video communications platform Synthesia has announced it has secured a $180 million (£147m~) Series D funding round.

This latest funding round brings the London-based tech company’s total capital raised to over $330m (£270m~), valuing the firm at $2.1bn (£1.7bn~).

According to Dealroom, this means that Synthesia is now the largest generative AI media company in the UK by valuation, and the second largest in the overall AI category.

The latest round in the company, whose platform lets users create custom and incredibly life-like AI avatars for corporate video communications and materials, was led by American investment firm New Enterprise Associates (NEA).

Participation also came from existing investors including Google Ventures, MMC Ventures and FirstMark, and new backers such as WiL (World Innovation Lab), Atlassian Ventures, and PSP Growth.

The AI firm said that the new milestone will fuel its next phase of growth, helping to support product development and talent growth, and expand its AI-powered video platform to meet the needs of several international markets, including Japan and North America.

As it stands, the company has offices in seven countries around the globe, with customers across many markets and industries, and generating just over half of its revenue from the United States.

Speaking on the funding, CEO and co-founder of Synthesia, Victor Riparbelli, said: “This new investment will help us develop a new generation of AI-powered video experiences that are interactive, real-time, and personalised, offering possibilities we could have only imagined when we founded the company in 2017.

“I’m excited to bring these experiences to our over 60,000 customers, which range from the world’s largest brands to thousands of small businesses that use Synthesia to communicate internally and externally with unmatched engagement and efficiency.”

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The UK Government’s science, innovation, and technology secretary Peter Kyle further added: “Synthesia’s latest investment is a powerful demonstration of how our Plan for Change is encouraging innovation and driving growth in the UK’s thriving AI sector.

“This funding showcases the confidence investors have in British tech, especially following our newly announced blueprint for AI, and highlights the global leadership of UK-based companies in pioneering generative AI innovations.

“Synthesia’s success story underscores how the UK remains the ideal place for companies to grow, thrive and lead the next chapter of the digital revolution.”