ElevenLabs raises $80M Series B, becomes a unicorn valued at $1.1 billion
ElevenLabs announced it has raised $80 million in a Series B round co-led by Andreessen Horowitz, Nat Friedman, and Daniel Gross. The round values the company at $1.1 billion, making it a unicorn just over a year after founding.
Details
- Round size and valuation: Raised $80 million at a $1.1 billion valuation
- Key investors: Co-led by Andreessen Horowitz, Nat Friedman, and Daniel Gross, with participation from Sequoia Capital, SV Angel, Smash Capital, BroadLight Capital, and Credo Ventures
- New product “Dubbing Studio”: Productized a feature that dubs video and audio content into other languages while preserving the original speaker’s voice quality
- “Voice Library”: Also launched a marketplace feature letting users buy, sell, and share voices they’ve created
- Other announcements: Also unveiled an early preview of a mobile reader app and a new model with improved speed and language support
What happened next
This Series B marked a turning point for ElevenLabs, expanding it from a speech synthesis tool into a comprehensive voice platform spanning dubbing and a voice marketplace. That November, the company announced “Conversational AI,” a tool for building voice agents, further expanding its business scope.