HeyGen is a generative artificial intelligence company that produces photo-realistic digital avatars from user-submitted photos and videos, alongside a library of pre-made avatars and voices. The digital avatars can recite user-provided prompts in multiple languages, using deep learning techniques to synchronize lip movements and speech. The service requires users to give verbal consent, including a spoken password, when submitting content for video generation, and employs both automated content filters and human moderators to block content used for bullying, harassment, and disinformation.
History
HeyGen was founded in 2020 by Joshua Xu and Wayne Liang, originally under the name Surreal and later rebranded from Movio. The company established its headquarters in Los Angeles in 2022, after initially raising capital from investors including Sequoia China (now HongShan) and ZhenFund. The HeyGen app launched in September 2022, offering users a platform to create avatar-based videos.
In November 2023, HeyGen raised $5.6 million in funding from Sarah Guo's venture capital firm, Conviction. As part of the deal, Guo replaced HongShan's seat on the company's board of directors. At that time, HeyGen reported employing 25 people. The following year, in 2024, the service was used to translate and lip-sync a speech by Argentine president Javier Milei for the World Economic Forum, demonstrating its multilingual capabilities.
In June 2024, HeyGen raised $60 million in a funding round led by Benchmark, with participation from Conviction, Bond Capital, and Thrive Capital, valuing the company at $500 million. 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 on its "Next Big Things in Tech" list and by Inc. on its 2024 "Best in Business" list.
Technology and Features
HeyGen's core technology relies on neural networks to generate realistic avatars from minimal input, such as a single photo or short video clip. The platform offers a library of pre-made avatars and voices, allowing users to select from diverse representations. The avatars can deliver prompts in multiple languages, with sequence-to-sequence models handling translation and cross-attention mechanisms aligning audio with visual lip movements.
Users submit content through a web interface, where they must provide verbal consent and a spoken password to verify identity. This process is designed to prevent unauthorized use of a person's likeness. The company also uses an automated content filter alongside human moderators to review submissions, removing content that violates policies against bullying, harassment, and disinformation.
Funding and Growth
HeyGen's early funding came from Sequoia China and ZhenFund, supporting its initial development and launch. The November 2023 investment from Conviction marked a strategic shift, with Sarah Guo joining the board. The June 2024 round, led by Benchmark, significantly boosted the company's valuation to $500 million. This growth trajectory reflects increasing demand for AI-generated video content in marketing, education, and entertainment sectors.
As of 2024, HeyGen's customer base exceeded 40,000, with annualized recurring revenue reaching $35 million. The company's employee count remained relatively small, around 25 people as of late 2023, indicating a lean operational model focused on software development and cloud-based services.
Controversies and Misuse
HeyGen has been reported by media outlets and Russian cybersecurity analysts Group-IB as a tool used to create deepfakes in harmful videos, ranging from consumer scams to deceptive health-related content and geopolitical propaganda. These incidents highlight the dual-use nature of generative AI technologies, where legitimate applications coexist with potential misuse.
The company's website, as of 2026, states that "HeyGen is one of the leading online deepfake makers because it includes face swap technology, image to video deepfake tools, GIF creation, and avatar features." This acknowledgment underscores the platform's capabilities, which have drawn both commercial interest and regulatory scrutiny. HeyGen's moderation systems, including verbal consent and human review, aim to mitigate such risks, though challenges remain in balancing accessibility with safety.