ElevenLabs raises $500M Series D at $11B valuation

ElevenLabs, a company founded in 2022, has raised $500 million in a Series D funding round, which values the company at $11 billion, tripling its valuation from the previous year. The funding round, led by Sequoia Capital with significant contributions from Andreessen Horowitz and ICONIQ, aims to enhance ElevenLabs' enterprise platform, ElevenAgents, which leverages voice and conversational AI for improved customer interactions, sales, and workflows. The company announced upgrades to its voice agents, enhancing response times and expressiveness, supported by its Eleven v3 Conversational model. ElevenLabs plans to use the funding to expand its research in emotional conversational models, dubbing, and audio intelligence, and to continue international expansion with go-to-market teams in key global cities. The company, initially known for its human-like AI text-to-speech model, now offers platforms such as ElevenCreative and ElevenAPI, used by major organizations for content localization and interactive experiences. Co-founders Mati Staniszewski and Piotr Dabkowski emphasize the transformative potential of their technology in reshaping human-machine interaction, with aspirations for further growth and impact in the AI ecosystem.