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ElevenLabs, the hot AI audio startup, confirms $180M in Series C funding at a $3.3B valuation | TechCrunch

Jan 30, 2025 - techcrunch.com
ElevenLabs, an AI audio startup, has raised $180 million in a Series C funding round, valuing the company at $3.3 billion. The round was co-led by a16z and ICONIQ Growth, with participation from new investors like NEA and existing ones such as Sequoia Capital. The funding will be used to enhance ElevenLabs' audio tools, develop more expressive AI models, and expand its conversational AI capabilities. The company aims to integrate text and audio models for multimodal interactions and improve speech-to-text technology. ElevenLabs is also focusing on consumer-facing products, like the ElevenLabs Reader app, and exploring new use cases for AI-powered voice technology.

Despite its growth, ElevenLabs faces challenges related to the misuse of its technology in misinformation campaigns. The company has implemented policies and moderation systems to address these issues and prioritizes safety over rapid deployment. As it expands its toolset and consumer reach, ElevenLabs remains committed to building robust safety mechanisms and tracking content authenticity through digital signatures. The startup's technology is already used by major platforms like Pocket FM, Chess.com, and ESPN, and it aims to further its presence in the audio content space while maintaining ethical standards.

Key takeaways:

  • ElevenLabs raised a Series C round of $180 million, valuing the company at $3.3 billion, with a16z and ICONIQ Growth as lead investors.
  • The company is focusing on developing more expressive audio AI models and combining them with text-based models for multimodal interactions.
  • ElevenLabs plans to expand its AI-powered conversational agents and improve speech-to-text capabilities, aiming for better natural interaction and understanding.
  • Despite its growth, ElevenLabs faces challenges with misuse of its technology, prompting the company to prioritize safety and implement measures to detect and prevent unauthorized use.
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