AI Voice Startup ElevenLabs Reaches $3.3 Billion Valuation in New Funding Round
ElevenLabs secures $180 million in a Series C round led by Andreessen Horowitz, tripling its valuation to $3.3 billion. The company plans to use the funds to advance voice AI research and expand its global product offerings.
ElevenLabs raises $180 million in a Series C funding round led by Andreessen Horowitz and ICONIQ Growth, bringing its total raised capital to $281 million. This new investment triples the AI startup's valuation to $3.3 billion, a massive increase from its $1 billion valuation in 2024. The round also sees participation from major strategic investors like Deutsche Telekom, LG Technology Ventures, and HubSpot Ventures.
The company specializes in highly accurate AI text-to-speech technology that replicates human voices with striking realism. Over the past year, ElevenLabs expands its product suite to include speech generation, voice design, sound effects, and AI-powered dubbing across 32 languages. This technology even allows users to experience digital content narrated by replicated voices of late Hollywood icons.
ElevenLabs operates as a remote-first company with main hubs in London, New York, and Warsaw. The startup plans to direct the new funding toward researching more expressive and controllable voice AI, building better tools for global developers, and strengthening AI safety protocols. CEO Mati Staniszewski states that this financial boost moves the company closer to a future where digital interactions happen through fluid, natural voice conversations.