Voice AI Startup ElevenLabs Secures USD 180 Mn in Series C Funding at USD 3.3 Bn Valuation The round was co-led by Andreessen Horowitz (a16z) and ICONIQ Growth, with participation from new investors such as NEA, World Innovation Lab (WiL), Valor, Endeavor Catalyst Fund, and Lunate. Existing backers, including Sequoia Capital, Salesforce Ventures, and Smash Capital, also contributed.
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Voice AI startup ElevenLabs has raised USD 180 million in its Series C funding round, propelling its valuation to USD 3.3 billion—triple its worth just a year ago. The round was co-led by Andreessen Horowitz (a16z) and ICONIQ Growth, with participation from new investors such as NEA, World Innovation Lab (WiL), Valor, Endeavor Catalyst Fund, and Lunate. Existing backers, including Sequoia Capital, Salesforce Ventures, and Smash Capital, also contributed.
Founded in 2022 by ex-Google machine learning engineer Piotr Dąbkowski and Mateusz Staniszewski, ElevenLabs is revolutionising digital voice interactions with cutting-edge AI audio tools for creators, businesses, and media.
The company's suite of products includes real-time Conversational AI, ElevenReader, and tools for speech generation, voice design, and AI dubbing in 32 languages. These technologies have found applications across industries like content creation, gaming, education, customer support, and accessibility. Customers include NVIDIA, Perplexity AI, and The Washington Post.
With the latest capital infusion, ElevenLabs plans to advance voice AI research, enhance developer tools, scale globally, and bolster AI safety measures. "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," said CEO Mati Staniszewski.
The company has ambitious plans for India, a key AI hub for consumer and business applications. It has appointed a local leadership team and is expanding investments in AI talent, development, and technology localisation. Efforts include broadening coverage for Indic languages and enhancing its voice library. India's growing relevance in the AI space aligns with ElevenLabs' global expansion strategy, which also targets LATAM, EMEA, and Asia.
ElevenLabs' collaboration with Lightspeed-backed Pocket FM highlights its impact on the content creation landscape. The partnership leverages ElevenLabs' AI to convert text-based scripts into immersive audio series.
David George, General Partner at a16z, expressed enthusiasm for ElevenLabs' potential, stating, "Voice is becoming a key part of how we interact with technology, and ElevenLabs is making it work at scale."
As the company deepens its global presence with offices in London, New York, and Warsaw, ICONIQ Growth's General Partner Seth Pierrepont added, "We believe ElevenLabs is redefining the way we connect with digital environments, placing voice at the very heart of these transformative interactions."
