The future of digital interaction just got more lifelike as ElevenLabs, the burgeoning AI audio startup, secured $180 million in Series C funding. This fresh injection of capital elevates the company’s valuation to a staggering $3.3 billion, reflecting its growing influence and ambition to make AI voices the gold standard of digital speech.
Founded in 2022 by childhood pals Piotr Dąbkowski and Mati Staniszewski, ElevenLabs aims to push the boundaries of voice technology beyond the robotic tones typical of many current AI. The recent funding round was co-led by prominent investors including Andreessen Horowitz and Iconiq Growth, with significant participation from established backers like Sequoia Capital and Salesforce Ventures.
The company’s mission is clear: to reshape how people interact with technology through voice. “Speech is how we naturally communicate. This funding moves us closer to a world where digital interactions happen by voice—fluid, natural, and as effortless as a conversation,” stated CEO Mati Staniszewski during the funding announcement on January 30, 2025.
Among the core objectives of this funding are plans to expand the company’s capabilities, focusing on developing more expressive and nuanced AI voice models. With over 1,000 years' worth of AI-generated audio already produced, user interest is evident—this reflects not only vast engagement but also the potential for exponential growth within this tech sector.
ElevenLabs’ technology offers various solutions, including the ability to create custom AI voices from text descriptions and tools for businesses to build interactive voice agents. Its products cater to diverse clients, from major tech firms like Nvidia to established media outlets such as The Washington Post and Chess.com.
More than 60 percent of Fortune 500 companies now employ ElevenLabs’ tools, indicating its solid market presence. The company’s solutions appeal to both enterprise clients and individuals, offering unique applications like voicing audiobooks and creating dynamic content for localization efforts.
Another noteworthy initiative is ElevenLabs' Impact Program, which has joined forces with over 80 organizations to assist individuals with speech impairments. Thanks to this effort, over 1,000 people with conditions such as ALS have been provided with AI-generated voices, highlighting the company’s commitment to social impact alongside technological innovation.
Partnering with influential firms and continuing its expansion plans, ElevenLabs has established itself as a key player on the global stage. With newly opened research and development centers, including one based in Warsaw, Poland, ElevenLabs is amplifying its efforts to accommodate various languages, accents, and dialects. This global orientation isn’t just about growth; it’s about making AI technology accessible to everyone.
After confirming the funding, ElevenLabs is poised to fuel significant advances under the guidance of its CTO Piotr Dąbkowski. His expertise has already been recognized with his inclusion as one of TIME Magazine’s Top 100 Innovators in AI. Dąbkowski emphasizes the transformative potential of making voices more expressive and controllable, stating, “This funding allows us to take the next steps toward what we envision for voice AI.”
The race for dominance within the AI voice industry is heating up, with projections indicating it could generate over $21 billion by the end of the decade. ElevenLabs is well-positioned to capture growth within this vibrant market, with its focus on creating safe, reliable, and effective AI-generated voices.
Building on its extensive funding history, including $281 million raised to date, ElevenLabs continues to attract interest and investment based on its innovative technology and mission-driven approach. Investors like David George from Andreessen Horowitz have expressed confidence, saying, “Voice is becoming a key part of how we interact with technology, and ElevenLabs is making it work at scale. We’re thrilled to continue to support their work.”
Looking forward, ElevenLabs is not only venturing to innovate within voice tech but is also committed to ethical practices, especially concerning AI safety. With substantial resources now at their disposal, the firm is dedicated to ensuring their products remain beneficial and responsibly deployed across all applications.
With goals set high, ElevenLabs stands as a pioneer at the intersection of technology and human interaction. Through its commitment to voice technology, it is transforming not just how we communicate with machines, but also how machines communicate with us.