ElevenLabs raises $180 million, valuation soars to $3.3 billion

Voice AI startup ElevenLabs has raised $180 million in a series C funding round, tripling the company’s valuation to $3.3 billion within a year.

The round was co-led by its long-time backer a16z (Andreessen Horowitz, Silicon Valley’s venture capital firm) along with ICONIC Growth. Existing investors Sequoia Capital, Salesforce Ventures, Smash Capital, SV Angel, NFDG and BroadLight Capital also participated in the round, ElevenLabs said in a release on Friday.

The US-based voice AI leader has raised a total funding of $281 million across four rounds since its founding in 2022.


“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 Mati Staniszewski, CEO of ElevenLabs.

In 2025, the company will focus on conversational AI agents and expanding voice tools and features to mobile for broader use. Among key markets, ElevenLabs will expand presence in regions like Asia, LATAM and EMEA, it said.

Strategic investors like Deutsche Telekom, LG Technology Ventures, HubSpot Ventures, NTT DOCOMO Ventures and RingCentral Ventures are also partnering with the company.

Founded as a voice application provider on top of AI models, ElevenLabs has expanded its products portfolio to voice design, sound effects and AI-powered dubbing in 32 languages, etc.

These technologies are together being used by creators, developers and businesses in areas like content creation, customer support, gaming and education, etc.

Moreover, creators and voice artists are even contributing to building datasets for ElevenLabs. Since January 2023, creators have shared over 5,000 voices in ElevenLabs’ voice library and earned more than $2 million in rewards, the company said.

Its conversational AI tool, within two months after launch, has enabled developers to build more than 250,000 conversational AI agents.

ElevenLabs’ models have localised more than 1 million hours of audio, read aloud 1 million hours of text from ebooks, PDFs and news articles through ElevenReader, and produced more than 10 million sound effects. Together, these milestones represent 1,000 years of AI audio generated with ElevenLabs, it said.