Colossyan Drives AI Growth with Strong 2024 Performance

Colossyan, a leading text-to-speech AI video generator for workplace knowledge sharing, announced its 2024 growth results, including a 61% increase in the total number of new accounts, accompanied by a jump to 35,000 business accounts.

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The US market played a pivotal role in this expansion, recording an 84% increase in US business accounts, including several Fortune 500 companies. While the US remains Colossyan’s largest market segment, it also experienced a 61% increase in UK-based business accounts and global reach extended across six continents.

Colossyan’s rapid expansion is in line with the growing global AI video market – valued at $7.6 billion in 2024 and projected to reach $157 billion by 2034.

The company’s $22M Series A raise in February 2024 paved the way for many product advancements and expansion efforts that have helped differentiate it from other AI video solutions. Colossyan has heavily invested into avatar realism and interactivity features to support the creation of active learning content, for example.

Fueled by the significant investments in the company, Colossyan has achieved key milestones, including the development of the following features:

• Scenario avatars: AI avatars filmed in real-world contexts, allowing users to simulate training scenarios customized to their specific industry and use case.
• Branching scenarios: Interactive learning experiences that enable viewers to make decisions that alter the storyline’s progression, allowing audiences to explore different paths in simulated scenarios.
• Video analytics: Metrics on a video’s views, average watch time, and audience quiz scores to help users optimize their content for better viewer engagement.
• Document to video: Automatically transform static documents like PowerPoint presentations into dynamic interactive videos complete with animations, voiceovers, and AI avatars.
• Instant avatars: Recently launched, the feature allows you to turn a 15-second video clip of yourself into a text-to-speech AI avatar that can be paired with any script and speak more than 70 languages.
• API 2.0: Programmatically generate custom video content with Colossyan’s newly improved API by sending text prompts and specifying video parameters.

“Our recent growth is a testament to the transformative potential of AI video technology and a reflection of our team’s relentless commitment to AI innovation,” says Dominik Mate Kovacs, CEO and founder of Colossyan. “Looking ahead to 2025, we are focused on making it even easier for businesses to create and share highly engaging content, in addition to meeting the escalating demand for more immersive AI video experiences.”

While Colossyan has traditionally focused on learning and development teams, the new features have laid the foundation for the company to serve the needs of new audiences, such as product marketing and sales enablement teams. Highly anticipated upcoming innovations, like scenario avatars and API improvements, will only drive further adoption across these emerging use cases.

Colossyan’s business operations have significantly grown in tandem with this revenue growth and product evolution, as the business now boasts a headcount of 100 employees across offices in New York, London, and Budapest.

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Source – Prnewswire