Four-year-old Tavus, a generative AI startup that assists businesses in producing digital “replicas” of people for automatically generated, customised video ads, has announced the completion of a new $18 million investment round.
Hassaan Raza, Co-founder and CEO of Tavus confirmed the funding in a press release on Tuesday.
The release of the developer platform comes after the startup announced the beta launch of the Tavus Developer Platform.
According to the release, product teams aiming to use AI to create innovative engagement experiences in online learning, sales, and marketing will have access to the company’s proprietary models through APIs.
The Series A round was led by Scale Venture Partners — an early-stage VC that has previously backed the likes of Box, HubSpot, and DocuSign. Other notable investors include Sequoia, which led Tavus’s $6.1 million seed round last year and participated alongside Y Combinator (YC) and HubSpot.
Tavus bills itself as an AI video cloning platform that creates hundreds of unique personalized videos in seconds.
The company was co-founded by Hassaan Raza and Quinn Favret in 2020 with headquarters in the San Francisco Bay Area, West Coast, Western US.
Raza claimed that the fund would be used to keep up the pace of product and model development.
With demand for its SaaS application coming from an increasing number of use cases in the banking, real estate, automotive, and healthcare industries, Tavus also intends to increase sales in the enterprise and mid-market segments.
Commenting on the recent funding, Rory Driscoll, Partner at Scale Venture Partners said:
“Companies need to meet customers where they are, and today’s customers are consuming video. To make it engaging, it has to feel personal, and to make it scalable, it needs to be automated.”
“The team at Tavus, led by co-founders with a strong vision, has made this possible and we’re excited to partner with them as they put the technology in developers’ hands to create personalized video experiences with generative AI.”
We’re thrilled to open the doors to our cutting-edge models, empowering developers to craft the next wave of captivating video experiences” Raza stated.
