- ElevenLabs rockets to $3B valuation
- Voice-cloning startup sees massive growth
- Investors bet big on audio tech
Riding the Voice Cloning Wave
ElevenLabs, a groundbreaking voice-cloning startup, is poised to dramatically increase its valuation to over $3 billion in an upcoming funding round.
Led by Iconiq Capital and featuring participation from Andreessen Horowitz, the startup aims to raise $200 million, marking an extraordinary leap from its $100 million valuation just twelve months ago.
Turning Whispers into Billions
Founders Piotr Dąbkowski and Mati Staniszewski’s original vision of improving movie voice-dubbing has transformed into an advanced text-to-speech technology capable of generating remarkably authentic voice replicas. The company has already achieved $90 million in annual recurring revenue and expects to hit $100 million by year’s end, attracting significant investor interest.
The Voice of Competition
Despite emerging competitors in the voice technology space, ElevenLabs stands out by requiring just minutes of audio to clone a voice. The startup’s primary challenge may come from OpenAI, which recently revealed a pilot program for synthetic voice creation.
ElevenLabs continues to push boundaries, positioning itself at the forefront of an innovative and rapidly evolving technological landscape.
