ElevenLabs, a Warsaw, Poland, London, UK and NYC-based research company which specializes in text to speech and AI voice generator, raised $180M in Series C funding.
The round was led by a16z and ICONIQ Growth, with additional new investors NEA, World Innovation Lab (WiL), Valor, Endeavor Catalyst Fund and Lunate. Sequoia Capital, Salesforce Ventures, Smash Capital, SV Angel, NFDG, BroadLight Capital, Deutsche Telekom, LG Technology Ventures, HubSpot Ventures, NTT DOCOMO Ventures, and RingCentral Ventures, also participated. This latest funding values ElevenLabs at $3.3 billion, and brings total funding to $281M across four rounds since its founding in 2022.
The company intends to use the funds to advance its AI audio technology, expand its research, and develop new products that make voice and sound central to digital
Led by CEO Mati Staniszewski, ElevenLabs provides voice AI models and introduced new products like Conversational AI, enabling real-time, natural speech for AI agents, and ElevenReader, a mobile app.
In the past year alone, ElevenLabs has broadened its product lineup, adding tools for speech generation, voice design, sound effects, AI-powered dubbing in 32 languages, and more:
- Conversational AI: a tool for building custom, interactive voice agents for customer support, gaming, education, marketing, and more.
- Voice Design: a tool for generating custom voices from text descriptions.
- Sound Effects Model: a tool for generating sound effects from text descriptions, marking ElevenLabs’ expansion into audio AI beyond voice applications.
- ElevenReader App: an iOS and Android mobile app that converts ebooks, PDFs, and news articles into audio, making content easy to consume on the go.
- Flash Model: a voice model with 75ms model latency.
- Voice Library Payouts: a platform for voice actors and users to monetize their AI-generated voices. It recently surpassed $2M in payouts.
- Dubbing Studio: a localization tool that translates and edits audio content while preserving the original voices.
The company has worked with Bridging Voice and The Scott Morgan Foundation to provide AI voices to individuals with ALS, and over 1,000 individuals with speech impairments have reclaimed their voices through the program. In the cultural space, ElevenLabs partnered with KADIST and the Centre Pompidou in Paris to bring AI-generated plays to life.
The company has 120 employees with its main hubs in London, New York, and Warsaw.
FinSMEs
03/02/2025