However, ElevenLabs has faced criticism for its potential misuse, with instances of its tools being used to share hateful messages and personal information. The company has taken steps to address these issues, including rooting out users violating its terms of service and developing a tool to detect speech created by its platform. It also plans to launch a marketplace for voices, where users can create, verify, and share voices, receiving compensation when their voices are used by others. Despite these efforts, concerns remain about the impact of such technology on the voice acting industry.
Key takeaways:
- ElevenLabs, a startup developing AI-powered tools for creating and editing synthetic voices, has raised $80 million in a Series B funding round, bringing its total raised to $101 million and valuing the company at over $1 billion.
- The company plans to use the new funds for product development, expanding infrastructure and team, AI research, and enhancing safety measures for responsible and ethical development of AI technology.
- ElevenLabs has faced criticism for misuse of its tools, including voice cloning for spreading hateful messages and harassment campaigns. In response, the company has attempted to root out users violating its terms of service and rolled out a tool to detect speech created by its platform.
- The company is also planning to launch a marketplace for voices, where users can create, verify, and share a voice, and receive compensation when others use it. However, the current setup has creators receiving credit toward ElevenLabs’ premium services instead of cash payment.