In the dynamic realm of AI innovation, funding is the lifeblood that fuels transformative ideas. ElevenLabs, the groundbreaking research company specializing in text-to-speech and AI voice generation, has recently secured an impressive $180 million in Series C funding. This funding round, spearheaded by the notable investment firms a16z and ICONIQ Growth, also welcomed a slew of new investors, including NEA, World Innovation Lab (WiL), and Valor, among others. With this latest capital influx, ElevenLabs achieves a staggering valuation of $3.3 billion, bringing its total funding to $281 million since its inception in 2022, a testament to the company's burgeoning influence in the AI landscape.
Under the visionary leadership of CEO Mati Staniszewski, ElevenLabs is poised to revolutionize voice technology.
. The company plans to leverage these substantial funds to enhance its AI audio capabilities, broaden its research initiatives, and develop innovative products that redefine how we experience voice and sound in the digital age. Recent advancements include the introduction of Conversational AI, enabling real-time, natural speech for AI agents, and the ElevenReader mobile app that transforms ebooks, PDFs, and articles into audio format for easier on-the-go consumption. Such revolutionary products not only demonstrate ElevenLabs' commitment to pushing the boundaries of AI but also highlight the investment opportunity this unique market presents.
With a rapidly expanding product suite, ElevenLabs is setting new standards in AI audio technology. The range includes tools for speech generation, custom voice design, sound effects modeling, and an AI dubbing service that supports 32 languages. This arsenal of products positions ElevenLabs for substantial growth as it serves various sectors, from customer support and gaming to cultural institutions. The company's collaborative efforts, such as providing AI voices for individuals with ALS, showcase its commitment to social impact while being at the forefront of audio AI advancements. With 120 employees located across its major hubs in London, New York, and Warsaw, ElevenLabs is a key player that both startup founders and investors should keep on their radar as AI continues to reshape our world.
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