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Artificial Intelligence

ElevenLabs Is The Latest Unicorn In Artificial Intelligence

January 22, 2024
x min read

There is a new unicorn startup in artificial intelligence.

What’s happening:

  • Voice technology research company ElevenLabs has raised $80M USD in a new Series B financing
  • The round was led by a16z, Nat Friedman, Daniel Gross and saw other notable venture capital funds including Sequoia Capital, Smash Capital, SV Angel and others

The big idea:

  • Eleven Labs leverages artificial intelligence to be able to turn text into audio across a wide variety of languages and accents
  • Users are able to quickly turn custom text into audio through Eleven Lab’s technology and then experiment with different options to find their preference of emotion, inflection and intonation

Going deeper:

  • Eleven Labs has already established partnerships with The Washington Post and other legacy media companies to integrate their voice technology
  • Eleven Labs also recently launched a new technology known as 'AI Dubbing’ that allows users to seamlessly have any piece of media translated into a different language

By the numbers:

  • Eleven Lab’s users have generated over 100 years worth of audio content through their technology
  • Since inception, Eleven Labs has raised $101M USD in venture capital

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