ElevenLabs secures $180 million in funding for voice AI innovation

ElevenLabs’ $180 million funding round was co-led by Andreessen Horowitz, boosting the London-based startup’s growth and innovation plans.

ElevenLabs, Funding round, NEA, World Innovation Lab, AI

Voice cloning startup ElevenLabs has raised $180 million in a Series C funding round, tripling its valuation to $3.3 billion. Co-led by Andreessen Horowitz and Iconiq Growth, the funding round also saw participation from new investors like NEA and World Innovation Lab, alongside increased support from existing backers such as Sequoia Capital and Salesforce Ventures. The company aims to leverage the new funding to enhance its research into expressive voice AI, develop new products, and expand its tools for developers and businesses.

Founded in 2022 and headquartered in London, ElevenLabs specialises in AI-generated voices that replicate various languages, accents, and emotions. The startup’s technology has already found applications in publishing and gaming, with partnerships including The New Yorker and Cloud Imperium Games. In 2024, ElevenLabs broadened its product offerings to include speech generation, voice design, sound effects, and AI-driven dubbing across 32 languages.

CEO Mati Staniszewski, who co-founded the company with Piotr Dabkowski, described the funding as a significant step towards making voice interactions more natural and effortless. With a total of $281 million raised so far, ElevenLabs is poised to play a leading role in the rapidly growing generative AI sector.