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Andrew Bonwick
Vice President of Product Development at Relm Insurance
Madhav Sheth
CEO of Ai+ Smartphone
Stephen Rose
CEO Render Networks
ElevenLabs has raised USD 180 million in Series C funding, bringing its total funding to USD 281 million since its 2022 launch. The round was co-led by a16z and ICONIQ Growth, with participation from new investors like NEA, World Innovation Lab (WiL), Valor, Endeavor Catalyst Fund and Lunate. Existing investors Sequoia Capital, Salesforce Ventures, Smash Capital, SV Angel, NFDG, and BroadLight Capital are also increasing their support, the AI Voice startup said in a statement on January 30, 2025.
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Also Read: Norwood Systems Launches AI Voice Platform for Operators with Microsoft
Partnerships and New Investors Support Growth
The company is further partnering with strategic investors, including Deutsche Telekom, LG Technology Ventures, HubSpot Ventures, NTT DOCOMO Ventures, and RingCentral Ventures. Headquartered in London, ElevenLabs plans to use the funding to expand its research into more expressive and controllable voice AI, create new products and expand its tools for developers and businesses. This new funding values the company at USD 3.3 billion, a threefold increase from its valuation a year ago.
ElevenLabs specialises in AI-powered speech technology and has introduced tools like Conversational AI for real-time, natural speech in AI agents, ElevenReader (a mobile app for converting written content into audio), and a Sound Effects Model for generating audio effects. It also offers features like voice design, dubbing, and monetisation platforms for voice actors. Its products serve a range of sectors, including customer support, gaming, education, and accessibility. Some of its partners include companies such as Nvidia, Perplexity, Synthesia, HeyGen, EliseAI, Wondershare, Kapwing, Parloa, Vapi, ESPN, The New Yorker, and more.
