ElevenLabs Secures $80 Million in Series B Funding to Revolutionize Voice AI Research and Development

Tuesday - January 23 2024, 04:25 UTC - 10 months ago

ElevenLabs, the voice AI research company, has raised $80 million in Series B funding. This positions them as global leaders in voice AI and allows them to continue developing innovative products, such as the Dubbing Studio and Voice Library marketplace. The company is also committed to responsible AI development and plans to expand its impact in various industries with the new funding.

ElevenLabs, the pioneering voice technology research company, recently announced their impressive success in raising $80 million in their Series B funding round. This strategic investment, co-led by top firms such as Andreessen Horowitz, Nat Friedman, and Daniel Gross, positions ElevenLabs as a global leader in voice AI research and product development.The company, which has been at the forefront of natural speech synthesis technology, has enabled users to create AI voices across multiple languages and accents with unprecedented range of emotions and intonations .

Since their public launch, ElevenLabs has empowered users to generate over 100 years of audio content, a feat which has garnered adoption by employees at 41% of Fortune 500 companies.The Series B funding comes at a pivotal moment for ElevenLabs, marking a significant milestone in their journey to redefine content accessibility across diverse sectors. Mati Staniszewski, CEO of ElevenLabs, expressed his excitement for the new funding, stating, “Our team's dedication has already made a lasting impact on voice AI .

This new funding enables us to take on even bigger challenges and focus on maintaining our competitive edge in research and product development.”In addition to the funding announcement, ElevenLabs has introduced a set of innovative products that are poised to revolutionize the voice AI landscape. Among them are the Dubbing Studio, a Voice Library marketplace, an early preview of a Mobile Reader App, and new models featuring improved speed and language coverage .

These groundbreaking innovations expand ElevenLabs' reach across various domains, including the creator economy, publishing, conversational AI, entertainment, education, and accessibility. The Dubbing Studio introduces a comprehensive workflow that allows users to dub entire movies and exercise greater control over content production. The Voice Library marketplace provides a secure platform for users to earn from AI versions of their voices, fostering a community-driven ecosystem .

Additionally, the Mobile Reader App offers users an early preview of a tool to convert text and URLs into audio, enhancing accessibility while on the move.ElevenLabs' technology has already made waves in the publishing, gaming, media, and conversational AI sectors. Partnerships with industry leaders like Storytel, The Washington Post, and Paradox Interactive underscore the company's commitment to innovation and collaboration .

By continuously expanding their suite of tools, from Speech Synthesis to Voice Cloning and AI Dubbing, ElevenLabs is catering to a wide range of user needs.Emphasizing the company's commitment to responsible AI development, ElevenLabs has implemented safeguards such as the AI Speech Classifier to verify content authenticity. With the Series B funding, ElevenLabs plans to advance their research, expand their infrastructure, develop vertical-specific products, and enhance safety measures, ensuring the responsible and ethical evolution of AI technology .

As 2024 rolls in, experts project an even greater upsurge in AI voice adoption across industries. With the help of the new financing, ElevenLabs seeks to capitalize on this trend and magnify its impact across diverse sectors even further.