Voice AI startup ElevenLabs raises $180M in new funding, tripling its valuation to $3.3 billion
Voice AI startup ElevenLabs has landed $180 million in fresh funding, tripling its valuation to $3.3 billion just a year after hitting unicorn status.
The Series C round was led by Andreessen Horowitz and Iconiq Growth, with additional backing from NEA, World Innovation Lab, Valor, Endeavor Catalyst Fund, and Lunate. Several existing investors, including Sequoia Capital, Salesforce Ventures, Smash Capital, SV Angel, NFDG, and BroadLight Capital, also increased their commitments.
Founded in 2022, the London-based startup builds AI-powered voice technology capable of generating speech in multiple languages, accents, and emotional tones. ElevenLabs was previously valued at $1.1 billion after an $80 million Series B led by Andreessen Horowitz. With this latest round, ElevenLabs has now raised a total of $281 million.
The new capital will go toward advancing research into more expressive and customizable voice AI, rolling out new products, and expanding tools for developers and businesses. Investors continue to pour money into generative AI startups, eager to capture the momentum sparked by OpenAI’s ChatGPT.
ElevenLabs was co-founded by Mati Staniszewski, formerly at Palantir Technologies, and Piotr Dabkowski, who previously worked at Google.
“This funding moves us closer to a world where digital interactions happen by voice—fluid, natural, and as effortless as a conversation,” Staniszewski said.
According to its websites, ElevenLabs has already landed partnerships with publishers such as The New Yorker, The Washington Post, and The Atlantic, along with gaming studios like Paradox and Cloud Imperium Games.
In 2024, the company expanded its product suite, adding features for speech generation, voice design, sound effects, and AI-powered dubbing across 32 languages. With a team of about 50 remote employees, ElevenLabs plans to double its workforce by the end of the year.