Text-to-video digital avatars for Learning & Development
Colossyan, an AI-based text-to-video platform, has received a $5M investment to help it expand self-serve video for learning and development.
The pandemic has accelerated demand for self-serve video across the spectrum of workplace learning applcations: in corporate communication, onboarding, sales enablement and compliance. In response, Colossyan, one of the only digital avatar platforms to offer convincing 'lipsyncing' for realistic text-to-video outputs, is stepping forward into the L&D space and has announced a $5 Million investment to help it grow its business.
Colossyan is specifically designed for the needs of L&D creators, and is currently used by corporations such as Proctor & Gamble, Hewlett-Packard, BMW, BASF. The business is seeing meteroic growth, substantial growth in recurring revenue, with month-to-month increases of over 30%. Colossyan's super-cool features can be tried out free-of-charge at www.colossyan.com.
"The level of interest and variety of use cases our customers have found for Colossyan has been incredible. In addition, we've received great feedback on additional features they would like to see developed - we'll be able to do just that with our new investment," said Dominik Kovacs, CEO of Colossyan.
"In the future, every learning designer will use a text-to-video solution to help build and localize the content they produce. Colossyan is the clear technological leader now and one of the fastest-growing players in this space. Our investment reflects our belief that the gap between them and their competitors is only set to grow," said investor, Jan Lynn-Matern, Founder and Partner at Emerge Education.
"Colossyan Creator has the potential to redefine how professionals work more efficiently through Generative AI," remarked Stanislav Sirakov, General Partner at LAUNCHub Ventures, who led the investment round.
The funds will be used for growing its world-class engineering and AI research teams. Colossyan also plans on expanding its commercial functions in London and New York, with key hires in sales, marketing, and adding to the industry-leading customer success team.