ElevenLabs, a Voice AI startup based in Brooklyn, secured an $80 million Series B funding round at a unicorn valuation, reflecting the sustained investor enthusiasm for AI technologies.
The company, without disclosing the exact valuation, confirmed its achievement of “unicorn status,” marking a substantial increase from its previous funding round. In June, ElevenLabs raised \(19 million at a post-money valuation of \)99 million during its Series A financing.
The Series B round was co-led by Andreessen Horowitz, Nat Friedman, and Daniel Gross, with participation from Sequoia Capital, SV Angel 1, Smash Capital, BroadLight Capital, and Credo Ventures.
ElevenLabs specializes in providing AI software that enables creators, businesses, and individuals to replicate voices in multiple languages. The company is preparing to introduce new products, including a dubbing studio and a voice library marketplace.
CEO Mati Staniszewski expressed the company’s commitment to revolutionizing content interaction by eliminating language barriers. He stated, “We’re leveraging cutting-edge technology to facilitate cross-language content accessibility, allowing everyone to engage with meaningful information and narratives.”
In a broader context, Generative AI and AI-focused startups collectively raised close to \(50 billion in 2023, with numerous substantial funding rounds, including several exceeding \)500 million. Despite the overall slowdown in venture capital activities, the AI sector remains resilient, with over $1 billion already raised by similar startups in the initial weeks of this year.
