ElevenLabs raises $80M Series B
The round, co-led by Andreessen Horowitz, Nat Friedman and Daniel Gross, valued the voice-generation company at $1.1bn, an elevenfold jump from its Series A eight months earlier.
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ElevenLabs raised an $80 million Series B round co-led by Andreessen Horowitz, Nat Friedman and Daniel Gross, reaching a $1.1 billion valuation and making it the first standalone AI voice company to cross that threshold. Sequoia Capital, Smash Capital, SV Angel, BroadLight Capital and Credo Ventures also took part.
The jump was steep even by the standards of the period: ElevenLabs had been valued at roughly $99 million at its Series A eight months earlier, so the new round represented roughly an elevenfold increase in a single funding cycle. Alongside the raise, the company announced new products, including expanded voice and language coverage for its speech-generation tools.
The round confirmed voice cloning and synthesis as one of the more heavily capitalised corners of generative AI outside the large frontier-model labs, with the same investors — Andreessen Horowitz, Nat Friedman and Daniel Gross — backing ElevenLabs across successive rounds. ElevenLabs raised again a year later, roughly tripling its valuation to $3.3 billion.