ElevenLabs secures $80m Series B funding to lead global voice AI innovation
ElevenLabs, a pioneering voice technology research company, has announced a significant milestone in its journey to revolutionize the voice AI industry with an $80 million Series B funding round. This monumental round was co-led by Andreessen Horowitz, Nat Friedman, Daniel Gross, and joined by Sequoia Capital, SV Angel, Smash Capital, BroadLight Capital, and Credo Ventures. This strategic infusion of capital is set to cement ElevenLabs’ position as a global leader in voice AI research and product deployment, signaling a new era in natural speech synthesis technology.
Since its inception, ElevenLabs has been at the forefront of the voice technology industry, enabling the creation and design of AI voices across numerous languages and accents. Its technology offers unparalleled capabilities in delivering a wide range of emotions and intonations, having generated over 100 years of audio content. Currently, ElevenLabs’ technology is utilized by employees at 41% of Fortune 500 companies, showcasing its widespread acceptance and application across various sectors.
ElevenLabs Raises $80M in Series B Funding for Voice AI Research
Strategic Use of Series B Funding
The Series B funding will be instrumental in further refining ElevenLabs’ product offerings while ensuring the safe deployment of AI technology. The company plans to leverage this investment to advance research, expand its infrastructure, and develop new products tailored to specific verticals. Additionally, enhancing safety measures to ensure the responsible and ethical development of AI technology remains a priority.
Innovations and Product Developments on the Horizon
ElevenLabs is set to introduce several innovative product developments, including a new Dubbing Studio workflow, a Voice Library marketplace, and an early-preview Mobile App reader. These advancements are designed to provide users with greater control over content production, monetization opportunities for AI voice creators, and convenient access to audio content, respectively.
Expanding Presence and Partnerships
Throughout 2023, ElevenLabs has expanded its presence across publishing, gaming, media, and conversational AI sectors, forging B2B partnerships with major media houses. These collaborations underscore ElevenLabs’ commitment to breaking down language and communication barriers, making content more accessible across languages and voices.
A Vision for the Future
With this significant Series B funding, ElevenLabs is poised to transform global communication through voice AI technology. The company’s dedication to innovation, coupled with its ambition to make content accessible to everyone, sets a new standard in the voice technology industry. As ElevenLabs continues to develop cutting-edge technology, its impact on accessibility and communication is only expected to grow, paving the way for a future where language barriers no longer exist.