---
title: "HeyGen revenue and valuation"
description: "HeyGen's ARR is estimated at $141M–$270M, last reported at $200M. Valued at $500M after raising $69M. Funding rounds and competitors."
url: https://www.tryspecter.com/revenue-valuation/heygen.md
canonical_url: https://www.tryspecter.com/revenue-valuation/heygen
publisher: Specter
last_updated: 2026-11-01
---

# HeyGen revenue and valuation

Specter estimates HeyGen's annual revenue at $141M to $270M and its valuation at $350M to $1.85B. The company last reported $200M ARR in June 2026 and was priced at $500M in March 2024.

HeyGen turns text into realistic spokesperson videos and AI avatars in minutes.

- Estimated revenue: $141M to $270M (October 2026)
- Estimated valuation: $350M to $1.85B (October 2026)
- Last reported ARR: $200M (June 2026)
- Total funding: $69M
- Founded: 2020
- Headquarters: Los Angeles, United States
- Employees: 473
- Sector: AI media
- Specter Rank: #32,175

## HeyGen revenue

HeyGen grew from $100M ARR in October 2025 to $200M in June 2026. Specter's model puts current ARR between $141M and $270M, anchored to two reported figures.

| Reported figure | Date | Source |
| --- | --- | --- |
| $200M ARR | June 2026 | [HeyGen Doubles to $200M ARR in Eight Months on the Rise of Identity-First AI Video](https://www.businesswire.com/news/home/20260625305891/en/HeyGen-Doubles-to-%24200M-ARR-in-Eight-Months-on-the-Rise-of-Identity-First-AI-Video) (businesswire.com) |
| $100M ARR | October 2025 | [HeyGen hit $100M ARR! 🚀🚀🚀](https://x.com/_claudiazhao/status/1978897766597193997) (x.com) |

| Month | Specter estimate | Low | High |
| --- | --- | --- | --- |
| October 2026 | $196M | $141M | $270M |
| September 2026 | $200M | $148M | $270M |
| August 2026 | $200M | $152M | $270M |
| July 2026 | $197M | $156M | $250M |
| June 2026 | $200M | $166M | $240M |
| May 2026 | $183M | $119M | $280M |
| April 2026 | $168M | $105M | $270M |
| March 2026 | $154M | $100M | $240M |
| February 2026 | $141M | $97M | $210M |
| January 2026 | $130M | $92M | $184M |
| December 2025 | $119M | $89M | $160M |
| November 2025 | $109M | $86M | $138M |
| October 2025 | $100M | $83M | $120M |
| September 2025 | $94M | $42M | $210M |
| August 2025 | $88M | $40M | $190M |
| July 2025 | $82M | $39M | $172M |
| June 2025 | $77M | $37M | $159M |
| May 2025 | $72M | $36M | $145M |
| April 2025 | $67M | $37M | $122M |
| March 2025 | $63M | $39M | $103M |
| February 2025 | $59M | $39M | $90M |
| January 2025 | $55M | $38M | $82M |
| December 2024 | $52M | $36M | $75M |
| November 2024 | $49M | $36M | $65M |
| October 2024 | $46M | $34M | $61M |
| September 2024 | $43M | $34M | $54M |
| August 2024 | $40M | $31M | $51M |
| July 2024 | $37M | $30M | $46M |
| June 2024 | $35M | $29M | $42M |

## HeyGen valuation

HeyGen was valued at $500M at its Series A in March 2024. Specter's live estimate sits between $350M and $1.85B.

| Month | Specter estimate | Low | High |
| --- | --- | --- | --- |
| October 2026 | $800M | $350M | $1.85B |
| September 2026 | $640M | $300M | $1.35B |
| August 2026 | $630M | $300M | $1.33B |
| July 2026 | $660M | $310M | $1.43B |
| June 2026 | $780M | $350M | $1.72B |
| May 2026 | $790M | $360M | $1.71B |
| April 2026 | $750M | $350M | $1.6B |
| March 2026 | $700M | $340M | $1.44B |
| February 2026 | $670M | $300M | $1.49B |
| January 2026 | $640M | $290M | $1.38B |
| December 2025 | $660M | $300M | $1.46B |
| November 2025 | $660M | $290M | $1.5B |
| October 2025 | $670M | $290M | $1.55B |
| September 2025 | $550M | $240M | $1.24B |
| August 2025 | $530M | $250M | $1.12B |
| July 2025 | $510M | $230M | $1.1B |
| June 2025 | $510M | $230M | $1.12B |
| May 2025 | $490M | $220M | $1.07B |
| April 2025 | $500M | $250M | $990M |
| March 2025 | $490M | $250M | $970M |
| February 2025 | $490M | $260M | $930M |
| January 2025 | $500M | $270M | $910M |
| December 2024 | $520M | $290M | $920M |
| November 2024 | $510M | $300M | $880M |
| October 2024 | $500M | $300M | $830M |
| September 2024 | $500M | $360M | $690M |
| August 2024 | $500M | $370M | $680M |
| July 2024 | $500M | $390M | $630M |
| June 2024 | $500M | $400M | $630M |

| Reported valuation | Month | Source |
| --- | --- | --- |
| $500M | March 2024 | Funding round |

## HeyGen funding rounds

| Date | Round | Raised | Post-money | Lead investors |
| --- | --- | --- | --- | --- |
| 25 Mar 2024 | Series A | $60M | $500M | Benchmark |
| 8 Nov 2022 | Seed | $9M | Undisclosed | Undisclosed |

## HeyGen vs competitors

The AI video market divides into creative production versus personalized interaction.

| Company | Estimated revenue | Estimated valuation |
| --- | --- | --- |
| HeyGen | $141M–$270M | $350M–$1.85B |
| Synthesia (synthesia.io) | $126M–$340M | $3.73B–$5.6B |
| D-ID (d-id.com) | $13M–$35M | $96M–$420M |
| Colossyan (colossyan.com) | $1.9M–$9.5M | $24M–$98M |
| AKOOL (akool.com) | $32M–$65M | $128M–$710M |

## Questions

### What is HeyGen's revenue?

Specter estimates HeyGen's annual recurring revenue at $141M to $270M as of October 2026. HeyGen last reported $200M ARR in June 2026, up from $100M in October 2025.

### What is HeyGen's valuation?

HeyGen's latest post-money valuation is $500M, from a March 2024 Series A. Specter's live estimate is $350M to $1.85B.

### How much funding has HeyGen raised?

$69M across two rounds, from a $9M Seed in November 2022 to a $60M Series A in March 2024.

### Who invested in HeyGen?

9 investors, including Aviv Nevo, Benchmark, Bond, Conviction VC, Dylan Field and Elad Gil.

### Who are HeyGen's competitors?

Synthesia, D-ID, Colossyan and AKOOL. Specter ranks 29 competitors for HeyGen.

## About this data

Specter models revenue and valuation monthly and anchors each estimate to reported figures and priced rounds. Method: https://www.tryspecter.com/revenue-valuation

Cite as: Specter. "HeyGen revenue and valuation." tryspecter.com/revenue-valuation/heygen. Updated November 2026.