ElevenLabs Raises $19 Million for Voice AI Research and Product Deployment
London-based voice technology research company, ElevenLabs, has announced that it has raised $19 million through its Series A funding round. Led by Nat Friedman, Daniel Gross, and Andreessen Horowitz, with participation from multiple investors such as Credo Ventures, Concept Ventures, and several other angel investors including famous names such as Mike Krieger, Brendan Iribe and Mustafa Suleyman. Andreessen Horowitz will be taking a board seat to assist with the company's expansion. The funds will be used for improving its voice AI research and product deployment.
ElevenLabs, founded by Mati Staniszewski as CEO and Piotr Dabkowski as CTO, focuses on developing cutting-edge text-to-speech software specifically for creators and publishers.
The company offers tools that transform any form of text into speech. These synthetic voices are created by cloning existing human ones or developing new synthetic voices of their own. These voices can be tailor-made to fit different gender, age group, and accent preferences of users.
Since its inception, ElevenLabs has created a Beta platform that has amassed over 1 million registered users in the creative industry, and furthermore, the platform has generated over 10 years worth of audio content. The company focuses not only on the creative industry but also assists individuals like the visually impaired who are in need of online content. The platform has already been embraced across multiple creative sectors, such as independent authors creating audiobooks, developers voicing characters in video games, and the world's first AI radio channel. This platform is continuously looking for advancements and has launched B2B partnerships with audiobook publishers Storytel, content creator platform TheSoul Publishing, and media platform MNTN to further develop its technology.
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