UK AI unicorn Synthesia today unveiled the site of its new global headquarters in London, as its CEO highlighted its growth by telling a packed audience that it had snagged $1.1m in revenues in a single day.
Synthesia’s new global HQ is in Regent’s Place campus in central London, a 13-acre site of offices, labs, retail and public spaces which is also home to the UKs life sciences community, including the Crick Institute and startups.
Synthesia, which makes AI-powered corporate videos for companies, said the move to the 20,000 sq ft workspace marked an “important milestone” for the eight-year-old firm.
The unveiling of the HQ was attended by the UK’s secretary of state for science, innovation, and technology, Peter Kyle, and the mayor of London Sadiq Khan.
Khan said Synthesia's new HQ “further cements Synthesia’s reputation as a global leader in AI and London’s reputation as a place for businesses to thrive”.
Kyle said the new HQ showed “evidence of the strength of Britain's tech sector and the environment we are building to support more and more home-grown companies to thrive in the digital age”.
Synthesia CEO Victor Riparbelli said: “In some ways, when you build in Europe, the odds are stacked a little bit more against you than they are when you build in Silicon Valley.”
Riparbelli said that Synthesia, which employs over 500 people, hitting the $100m ARR (annual recurring revenue) milestone earlier this year was the milestone he is “most proud of” but said an even “crazier milestone” was hitting $1.1m of ARR in a single day, on Monday this week.
ARR is a key metric for startups and measures recurring revenues over a year, including revenue from subscriptions, contracts and other regular income streams.
.In January this year, Synthesia doubled its valuation to $2.1bn, following a $180m funding round, when it pledged that the UK will remain its headquarters. It also has an office in New York.
Synthesia’s new office is four times the size of its old London HQ.
Photo credit: Synthesia
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