ElevenLabs, a pioneering voice technology research company, has recently secured a remarkable €73 million in a Series B funding round. The investment was co-led by renowned firms including Andreessen Horowitz, Nat Friedman, and Daniel Gross, along with the participation of influential names like Sequoia Capital, SV Angel, Smash Capital, BroadLight Capital, and Credo Ventures. This substantial funding aims to solidify ElevenLabs’ position as the global leader in voice AI research and product deployment.
With this significant capital infusion, ElevenLabs plans to advance its research endeavors, expand its infrastructure, develop innovative products for specified industries, and enhance safety measures to ensure the responsible and ethical development of AI technology.
Since its public launch in 2022, ElevenLabs has been at the forefront of natural speech synthesis, empowering users to create and design AI voices across a wide array of languages and accents. Their technology offers a remarkable range of emotions and intonations, revolutionizing the way we interact with voice-powered devices. As a testament to their success, ElevenLabs has amassed over 100 years of audio generated by its users while growing exponentially from just 5 to 40 employees. Currently, their cutting-edge voice AI technology is being utilized by an impressive 41% of Fortune 500 companies.
This versatile technology developed by ElevenLabs has found applications across various sectors, such as enhancing audience experiences, expanding access to education, and providing innovative solutions in publishing, entertainment, and personal use. Furthermore, it has played a crucial role in improving accessibility for individuals with special needs. The newly acquired funding will further refine ElevenLabs’ product offerings, ensuring the safe and effective deployment of AI technology.
In addition to the Series B funding news, ElevenLabs has also announced a range of exciting new developments. They will soon launch a new Dubbing Studio, which promises to offer a groundbreaking experience in audio dubbing. Additionally, they will introduce a Voice Library marketplace, providing an extensive collection of AI voices for various applications. Lastly, ElevenLabs will offer an early preview of their Mobile App reader, enabling users to experience the power of their cutting-edge voice AI technology on their mobile devices.
Mati Staniszewski, the CEO and co-founder of ElevenLabs, expressed his unwavering ambition to revolutionize the way we interact with content and break down language barriers. He emphasized that the dedicated team at ElevenLabs, alongside their supportive investors, has made significant progress in shaping the future of accessibility and communication.
Throughout 2023, ElevenLabs has expanded its presence across multiple sectors, such as publishing, gaming, media, and conversational platforms. They have also forged valuable B2B partnerships with major media houses, further cementing their position as leaders in the field of voice AI research and technology.
This substantial funding and the consistent growth of ElevenLabs highlight the increasing dominance of voice AI in our lives. By breaking down language barriers and offering exceptional accessibility, ElevenLabs is revolutionizing the way we consume and interact with content. With their groundbreaking technological advancements and strategic partnerships, they are well-positioned to lead the global voice AI research landscape into a promising future.
