ElevenLabs Reaches $3.3 Billion Valuation After $180M Series C
AI audio startup ElevenLabs secures $180 million in a Series C round led by a16z and ICONIQ Growth, pushing its valuation to $3.3 billion. The company plans to use the funds to develop more expressive audio models and expand its business operations.
ElevenLabs secures $180 million in a Series C funding round, reaching a post-money valuation of $3.3 billion. Venture capital firms a16z and ICONIQ Growth co-lead the investment, which features a crowded list of prominent financial and strategic backers. The funding brings in new participants like NEA, Valor, and Deutsche Telekom, while past investors such as Sequoia Capital and Salesforce Ventures also increase their stakes.
The startup plans to use this fresh capital to enhance its AI audio tools and drive business development. CEO Mati Staniszewski explains that the company focuses its research on creating audio AI models that offer greater expressiveness and user control. Additionally, ElevenLabs is developing "omni-models" that merge text-based AI with audio capabilities to enable seamless multimodal interactions.
Massive investor interest in ElevenLabs stems from the broader generative AI boom and the startup's established dominance in synthetic voice technology. Dozens of major publishers, gaming companies, and tech startups currently rely on ElevenLabs to power their voice and audio features. As part of the funding deal, ICONIQ partner Seth Pierrepont joins the company's board of directors to help guide its next phase of growth.