ElevenLabs, a voice technology research company and world leader in audio AI software, has raised a €17.3 million Series A to continue its voice AI research and product deployment, part of its mission to make all content universally accessible.
The round was co-led by Nat Friedman, Daniel Gross, and Andreessen Horowitz, with further participation from Credo Ventures, Concept Ventures, and an array of strategic angel investors including Instagram co-founder Mike Krieger, Oculus VR co-founder Brendan Iribe, Deepmind & Inflection co-founder Mustafa Suleyman, Perplexity AI co-founder Aravind Srinivas, Vercel founder Guillermo Rauch, O’Reilly Media founder Tim O’Reilly, Creator Ventures and SV Angel. Storytel and TheSoul Publishing also join this round as investors. Andreessen Horowitz is taking a board seat.
This investment will be used to continue building ElevenLab’s cutting-edge research hub for Voice AI and to launch a range of additional products to support specific market verticals such as publishing, gaming, entertainment, and conversational applications.
Mati Staniszewski, CEO and co-founder of ElevenLabs, comments: “Over the last five months, we’ve seen our technology embraced by millions of creators, companies, and curious minds. We are right at the beginning of this journey and now with Nat, Daniel, and Andreessen Horowitz joining, we have the best partners as we continue on the ambitious path forward.”
Piotr Dabkowski, CTO and co-founder of ElevenLabs, adds: “Since our inception in April 2022 we have focused on assembling a great team – one of the key factors for long-term success – and have built a unique team of talented, passionate and hard working people. With such a wonderful set of colleagues and partners, we are well on our way to realising our ambition of completely breaking down language barriers with technology.”
The company is taking an integrated approach to developing voice AI research and products. In response to user demand, ElevenLabs is also launching Projects – available now for early access – a highly sought-after production workflow for editing and creating dynamic, long-form spoken content.
Projects join the ElevenLabs suite of products, which includes Speech Synthesis, a text-to-speech platform that leverages pre-existing synthetic voices and VoiceLab, a workflow for creating a unique voice or digital version of an existing one. The platform has also recently released access to Eleven Multilingual – speech synthesis model, which can be used across the most spoken European languages. The platform is available for all at: elevenlabs.io.
These recent product developments are stepping stones towards developing an AI dubbing tool aimed for release later this year. ElevenLabs is also unveiling its AI Speech Classifier. This tool will enable anyone to upload an audio sample and find out whether the clip contains AI-generated audio from ElevenLabs.
Staniszewski, adds: “Our mission is to be the ultimate tool for storytelling, dissolving language barriers and putting all audiences in the reach of all content creators in a safe and responsible way. With an incredible, growing team and these exceptional investors, ElevenLabs is now ever closer to realizing its long-term goal of making all content universally accessible in any language and any voice.”
Founded in 2022, ElevenLabs unveiled its Beta platform in January 2023, after spending 2022 developing audio AI models that could create the most versatile and contextually-aware AI voices. Since launch, ElevenLabs has amassed over 1 million registered users who have generated over 10 years worth of audio content.
ElevenLabs tools can turn any text into speech using synthetic voices, cloned voices, or by creating entirely new artificial voices that can be tailored according to gender, age, and accent preferences. Through its research, ElevenLabs has been able to achieve a new level of speech quality that is almost indistinguishable from a real human with sub-1 second latency.
The platform has already been embraced across multiple creative verticals and sectors, from independent authors creating audiobooks, developers voicing characters in video games, supporting the visually impaired to access online written content, and powering the world’s first AI radio channel. ElevenLabs has also launched a range of B2B partnerships, including with one of the world largest audiobook publishers Storytel, leading global content creator platform TheSoul Publishing and the media platform MNTN.
