AI voice technology leader ElevenLabs has raised $180 million in a Series C funding round, reinforcing its position as the industry’s foremost innovator in AI-powered voice and audio solutions.
This latest round, co-led by Andreessen Horowitz (a16z) and ICONIQ Growth, saw participation from new investors NEA, World Innovation Lab (WiL), Valor, Endeavor Catalyst Fund, and Lunate, alongside returning backers such as Sequoia Capital, Salesforce Ventures, Smash Capital, SV Angel, NFDG, and BroadLight Capital. Strategic investors, including Deutsche Telekom, LG Technology Ventures, HubSpot Ventures, NTT DOCOMO Ventures, and RingCentral Ventures, also joined the round.
The funding triples ElevenLabs’ valuation to $3.3 billion, a significant leap from its previous $1 billion valuation in early 2024. The company has now raised a total of $281 million across four funding rounds since its founding in 2022 by Polish entrepreneurs Mati Staniszewski and Piotr Dąbkowski.
The Rise of ElevenLabs: From startup to AI audio powerhouse
ElevenLabs first gained attention in 2023 with its pioneering voice AI models. The company quickly expanded, attracting millions of users who collectively generated over 1,000 years of AI-generated audio. Its AI voice technology is now widely used across industries, with employees at over 60% of Fortune 500 companies utilizing its platform.
In early 2024, ElevenLabs became Central and Eastern Europe’s first unicorn of the year, raising $80 million in a Series B round, co-led by Andreessen Horowitz, Nat Friedman, Daniel Gross, and Sequoia Capital. The company’s Voice AI Speech Classifier was introduced to help identify AI-generated audio, ensuring ethical and responsible use of its technology.
With the new Series C investment, ElevenLabs is will drive the next stage of AI audio, supporting research into more expressive and controllable voice AI, expanding tools for developers and businesses scaling globally, and strengthening AI safety. In the past year alone, ElevenLabs has broadened its product lineup, adding tools for speech generation, voice design, sound effects, AI-powered dubbing in 32 languages, and more:
- Conversational AI – A tool for real-time interactive voice agents used in customer support, gaming, education, and marketing.
- Voice Design – A feature allowing users to generate custom voices from text descriptions.
- Sound Effects Model – AI-generated sound effects, marking the company’s expansion into audio beyond voice applications.
- ElevenReader App – A mobile app that converts ebooks, PDFs, and news articles into audio for on-the-go consumption.
- Flash Model – The fastest AI voice model, with 75ms latency.
- Voice Library Payouts – A monetization platform where voice actors and creators have already earned over $2 million.
- Dubbing Studio – An AI-powered dubbing tool supporting 32 languages, allowing seamless localization while preserving original voice attributes.
A growing global presence
ElevenLabs has solidified its position across multiple industries, working with major tech, media, publishing, education, and gaming companies, including: NVIDIA, Perplexity, Synthesia, Kapwing, TIME, The Washington Post, ESPN, Chess.com, Synthesis and Paradox Interactive among others.
The company has also committed to ethical AI practices, launching its Impact Program, which provides free AI voice solutions for accessibility, education, and cultural initiatives. Over 1,000 individuals with speech impairments have benefited, and partnerships with organizations like Bridging Voice and The Scott Morgan Foundation continue to push AI-driven inclusivity forward.
As ElevenLabs moves into 2025, it aims to establish voice as the primary medium for digital interaction.
As it heads into 2025, ElevenLabs is focused on making its AI audio platform more collaborative, increasing access to cutting-edge research, advancing its conversational AI agents, and expanding its tools and features to mobile for broader use and impact.
The company has further expanded into Poland and India to drive AI research and development while strengthening its presence in Asia, LATAM, and EMEA. The new Warsaw R&D center will serve as a hub for CEE talent, while the India team focuses on extending Indic language coverage and AI programs.
CEO Mati Staniszewski envisions a world where AI-powered speech is as fluid and natural as human conversation:
“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.”
More than 25 open positions
With 120 employees across hubs in London, New York, and Warsaw, ElevenLabs remains at the forefront of AI audio innovation. As voice technology becomes increasingly central to global digital experiences, Polish ElevenLabs is leading the charge in transforming how people engage with content, applications, and devices worldwide.
For that they are in need of even more talents, across research, engineering, and product.
