ElevenLabs, a leading AI-powered voice technology company, has secured $180 million in its Series C funding round. The investment, co-led by Andreessen Horowitz (a16z) and ICONIQ Growth, has pushed the company’s valuation to $3.3 billion. The funds will help ElevenLabs enhance its AI voice technology and expand globally.
Major Investors and Strategic Partners
Along with a16z and ICONIQ Growth, other investors participating in the funding round include New Enterprise Associates (NEA), World Innovation Lab (WiL), Valor, and Endeavor Catalyst Fund. Strategic partners like Deutsche Telekom and RingCentral Ventures have also joined in supporting ElevenLabs’ expansion.
ICONIQ’s Seth Pierrepont highlighted the company’s role in transforming digital communication, stating, “ElevenLabs is redefining how we engage with digital environments by making voice interactions more natural and seamless.”
Advancing AI-Powered Voice Technology
Since its launch in 2022, ElevenLabs has made significant progress in AI-driven audio solutions. The company’s platform is now used by over 60% of Fortune 500 companies. It provides services like:
- Conversational AI for natural-sounding digital voices
- Sound effects generation to create immersive audio experiences
- AI-powered dubbing in 32 languages, making content accessible to global audiences
CEO Mati Staniszewski emphasized the importance of voice in digital communication, saying, “Speech is how humans naturally interact. This funding brings us closer to a world where digital conversations feel as natural as real-life discussions.”
Expanding Research and Strengthening AI Safety
With the new funding, ElevenLabs plans to:
- Enhance research in expressive and controllable AI voice technology
- Strengthen AI safety protocols to ensure ethical and responsible AI use
- Develop AI models that support more languages, accents, and dialects
David George from Andreessen Horowitz expressed confidence in ElevenLabs’ vision, stating, “We are excited to support their work in building the next generation of AI-driven voice solutions.”
Global Expansion Plans for 2025
Looking ahead, ElevenLabs aims to expand into new markets, particularly in Asia and Latin America (LATAM). The company plans to improve its voice AI platform to cater to a diverse range of languages and accents worldwide.
By advancing its AI capabilities and broadening its global reach, ElevenLabs is set to redefine digital communication, making voice interactions more natural, accessible, and engaging.
