Total amount raised
$281 Millions
Latest funding date
Location
Title
ElevenLabs has successfully raised significant funding over multiple rounds, positioning itself as a key player in AI-driven audio solutions. The company specializes in developing advanced AI audio models for speech and sound generation.
Keep reading to explore the intricacies of ElevenLabs' fundraising journey and the investors backing this innovative platform.
What Is ElevenLabs?
Founded in April 2022, ElevenLabs is an AI audio research and deployment company based in New York, New York. The company specializes in developing advanced AI audio models for realistic speech and sound generation.
ElevenLabs was founded by Mati Staniszewski and Piotr Dabkowski. Their technology supports various applications, including voicing audiobooks, animating video game characters, and automating localization in entertainment.
With a team of 101-250 employees, ElevenLabs continues to innovate in the field of AI-driven audio solutions, offering tools like text-to-speech, speech-to-text, voice cloning, and dubbing.
How Much Funding Has ElevenLabs Raised?
- Pre-Seed Round
- Amount Raised: $2M
- Date: January 2023
- Lead Investors: Credo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their AI audio models and establish initial operations.
- Series A
- Amount Raised: $19M
- Date: June 2023
- Lead Investors: Andreessen Horowitz, Daniel Gross, Nat Friedman
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $80M
- Date: January 2024
- Lead Investors: Andreessen Horowitz, Daniel Gross, Nat Friedman
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance AI capabilities.
- Non-Equity Assistance
- Amount Raised: -
- Date: February 2024
- Lead Investors: Disney Accelerator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain strategic support and industry connections.
- Series C
- Amount Raised: $180M
- Date: January 2025
- Lead Investors: Andreessen Horowitz, ICONIQ Growth
- Valuation at Round: $3.3 billion
- Motivation Behind the Round: To expand global reach, enhance AI safety, and develop more expressive voice AI.
ElevenLabs has raised a total of $281M with a current valuation of $3.3 billion.
Key Investors
- Andreessen Horowitz
- Details: Andreessen Horowitz, also known as a16z, is a prominent venture capital firm based in Silicon Valley. It is known for investing in early-stage and growth-stage technology companies.
- Investment Focus Areas: Technology, software, internet companies.
- Notable Investments: Facebook, Airbnb, Slack.
- ICONIQ Growth
- Details: ICONIQ Growth is a growth equity firm that invests in technology and innovation-driven companies. It focuses on supporting companies through their growth stages.
- Investment Focus Areas: Technology, growth-stage companies, innovation.
- Notable Investments: Snowflake, Uber, Zoom.
- New Enterprise Associates (NEA)
- Details: NEA is a global venture capital firm that invests in technology and healthcare sectors. It has a long history of supporting innovative companies.
- Investment Focus Areas: Technology, healthcare, energy.
- Notable Investments: Robinhood, Coursera, Duolingo.
- Sequoia Capital
- Details: Sequoia Capital is a leading venture capital firm that invests in early and growth-stage technology companies. It has a strong track record of backing successful startups.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: Apple, Google, WhatsApp.
- World Innovation Lab (WiL)
- Details: World Innovation Lab is a venture capital firm that bridges the gap between startups and large corporations, focusing on global innovation. It supports companies with high growth potential.
- Investment Focus Areas: Technology, innovation, global potential.
- Notable Investments: Mercari, Asana, Auth0.
What's Next for ElevenLabs?
ElevenLabs stands at the cusp of a vast opportunity, poised to expand its reach into new regions like Asia and LATAM. With a mission to enhance expressive, controllable voice AI and strengthen AI safety protocols, the company aims to serve all languages, accents, and dialects globally. The adoption of its tools by over 60% of Fortune 500 companies underscores the significant market potential and investor confidence.
Future fundraising opportunities appear promising, given the successful Series C round and the company's ambitious growth plans. The involvement of high-profile investors like Andreessen Horowitz and ICONIQ Growth suggests that additional funding rounds could support further expansion and technological advancements. However, challenges such as ensuring AI safety, navigating regulatory environments, and maintaining a competitive edge in a rapidly evolving industry remain critical.
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