NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Narendra Modi
    Amit Shah
    Box Office Collection
    Bharatiya Janata Party (BJP)
    OTT releases
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout

    India
    Business
    World
    Politics
    Sports
    Technology
    Entertainment
    Auto
    Lifestyle
    Inspirational
    Career
    Bengaluru
    Delhi
    Mumbai

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
    Home / News / Business News / AI voice firm ElevenLabs raises $250M at over $3B valuation
    Summarize
    Next Article
    AI voice firm ElevenLabs raises $250M at over $3B valuation
    ElevenLabs raised $80 million last year

    AI voice firm ElevenLabs raises $250M at over $3B valuation

    By Akash Pandey
    Jan 25, 2025
    02:21 pm

    What's the story

    New York-based synthetic voice start-up ElevenLabs has raised a whopping $250 million in a Series C funding round.

    The round, led by ICONIQ Growth, valued the company between $3 billion and $3.3 billion, according to TechCrunch.

    The massive funding comes just a year after ElevenLabs raised an impressive $80 million in Series B funding in January 2024 from lead investor Andreessen Horowitz.

    Expansion

    Rapid growth and investor interest

    ElevenLabs has been on a rapid growth trajectory, with its AI audio technology being adopted widely. This growth spurt has generated a lot of interest among investors in the company.

    ElevenLabs had originally sought funding at a $4 billion valuation but ultimately settled for a still-impressive $3 billion valuation, tripling its unicorn status from last year's Series B round.

    Evolution

    The journey of ElevenLabs

    Founded in 2022, ElevenLabs was established by Mati Staniszewski and Piotr Dabkowski, who previously worked at Palantir and Google, respectively.

    The duo wanted to enhance the quality of dubbing in American videos with the help of AI.

    They launched their first beta product in January 2023, and by June that year, they raised $19 million in Series A funding after going viral.

    Tech application

    A versatile tool for various industries

    ElevenLabs's tech comes with a range of applications, including text-to-speech translation (in several languages), voice cloning, voice alteration in audio tracks, and creation of new voices.

    The technology is available through an API and comes with different usage tiers.

    It has been adopted by tech platforms like Syntheisa, publishing giants such as Washington Post, HarperCollins, Bertelsmann, as well as gaming companies.

    Financials

    Revenue growth and market valuation

    Back in October 2024, sources revealed that ElevenLabs's annualized recurring revenue (ARR) had grown from $25 million in 2023 to $80 million.

    By November, some pegged its ARR closer to $90 million.

    If true, the $4 billion valuation would have been a multiple of 44 times ARR, but the deal was closed at a slightly more conservative multiple of 37 times ARR.

    Facebook
    Whatsapp
    Twitter
    Linkedin
    Related News
    Latest
    Artificial Intelligence and Machine Learning
    Startups

    Latest

    Who is representing India at Miss World this year?  Miss India
    Manchester United to face Tottenham in Europa League final: Stats Manchester United
    Who's got the biggest net worth on 'Battleground'?  Asim Riaz
    'Gram Chikitsalay' review: Amol Parashar is scene-stealer in realistic series  Amazon Prime Video

    Artificial Intelligence and Machine Learning

    This OpenAI model 'thinks' in Chinese. We don't know why OpenAI
    US's cap on chip exports may hinder India's AI development United States of America
    International Day of Education 2025: AI's role in human learning Education
    Google's upcoming AI feature will block pop-up ads on Chrome Google

    Startups

    Hyderabad-based start-up to launch India's 1st AI lab in space Artificial Intelligence and Machine Learning
    YesMadam denies firing stressed employees, calls it awareness campaign LinkedIn
    Amazon eyes exports worth $80 billion from India by 2030 Amazon
    70% women entrepreneurs face difficulty in attracting talent: CXXO report India
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2025