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ElevenLabs Scores $80M in Series B, Joins the Unicorn Club

Not only secured a $80M in a Series B funding round but has also ascended to the unicorn status with a valuation of $1B
January 24, 2024

In a symphony of success, ElevenLabs, the AI startup mastering the art of audio AI software, has orchestrated an impressive $80 million in a Series B funding round. This financial crescendo not only propels ElevenLabs into the coveted unicorn status, but it also underscores the growing significance of generative AI in the tech landscape.

Leading this funding symphony is the prestigious New York-based VC, Andreessen Horowitz, a familiar face from ElevenLabs' previous $19 million funding round in June 2023. Joining the chorus of investors are notable figures like Nat Friedman, former CEO of GitHubDaniel GrossSequoia Capital, Smash CapitalSV Angel, BroadLight Capital, and Credo Ventures.

Founded just last year by ex-Google and Palantir visionaries, ElevenLabs isn't merely riding the waves of success; it's sculpting them. The latest funding will serve as a powerful note, helping the startup fortify its position as the global leader in voice AI research and product deployment. With a strategic focus on advancing research, expanding infrastructure, and developing tailored products for diverse verticals, ElevenLabs is set to harmonize the responsible and ethical development of AI technology.

In tune with its ambitious trajectory, ElevenLabs isn't just content with financial triumphs; it's launching groundbreaking products that promise to redefine the audio AI landscape.

- Dubbing Studio Unleashed: A revolutionary platform that empowers users to dub entire movies, edit transcripts, translations, and timecodes, putting unprecedented control over content production in the hands of creators.

- Voice Library Marketplace: A secure haven for users to monetize their AI-generated voices. Imagine having a professional AI version of your voice, verified and shared seamlessly via the Voice Library.

- Mobile App Reader Preview: An early glimpse of a Mobile App reader that transforms text and URLs into audio instantly, offering users on-the-go access to content in a different medium. The app is set to be available free of charge for the first three months.

Founded on a shared passion rooted in childhood, ElevenLabs is the brainchild of Mati Staniszewski and Piotr Dabkowski, childhood friends who were inspired by the less-than-impressive dubbing of American movies during their upbringing in Poland. The mission: make content universally accessible in any language and any voice. Today, with headquarters in the US and an office in London, ElevenLabs boasts over 1 million registered users spanning creative, entertainment, and publishing realms.

ElevenLabs isn't just transforming text into speech; it's reshaping how we interact with content. With synthetic voices, cloned voices, and novel artificial voices, the startup is breaking down language and communication barriers. Piotr Dabkowski, CTO, and co-founder affirmed, "This new funding enables us to take on even bigger challenges and focus on maintaining our competitive edge in research and product development."

As Mati Staniszewski, CEO, and co-founder puts it, "Our ambition remains the same – to transform how we interact with content by breaking down language and communication barriers. Together we're helping shape the future of accessibility and communication."

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