ElevenLabs Raises $80M in Series B
ElevenLabs has successfully raised $80M in a Series B at a $1.1B valuation led by Andreessen Horowitz, Sequoia.
Company Overview
ElevenLabs is a AI/ML company headquartered in New York, NY, founded in 2022 with 50+ employees.
AI voice synthesis and cloning
Fundraising Details
- Amount Raised: $80M
- Round Type: Series B
- Valuation: $1.1B
- Date: 2024-01-22
- Investors: Andreessen Horowitz, Sequoia
About ElevenLabs
AI voice synthesis and cloning The company is positioned in the AI/ML sector, serving a growing market with innovative solutions.
Key Information
- Headquarters: New York, NY
- Founded: 2022
- Team Size: 50+
- Industry: AI/ML
What This Means
This funding round demonstrates strong investor confidence in ElevenLabs's vision and execution. The capital will likely be used to:
- Scale Operations: Expand the team and operational capacity
- Product Development: Enhance existing products and develop new features
- Market Expansion: Enter new markets and strengthen presence in existing ones
- Technology Investment: Invest in infrastructure and technology capabilities
Industry Context
The AI/ML sector continues to attract significant investment as companies innovate to meet evolving market demands. ElevenLabs's successful fundraising reflects the strong fundamentals and growth potential in this space.
Valuation Milestone
Reaching a $1.1B valuation marks an important milestone for ElevenLabs, positioning the company among notable players in the AI/ML industry.
Looking Ahead
With this new capital, ElevenLabs is well-positioned to execute on its growth strategy and continue building innovative solutions in the AI/ML space. The company's trajectory will be one to watch as it deploys this funding to achieve its next phase of growth.
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This fundraising news was reported on 2024-01-22. For more information about ElevenLabs, visit their headquarters at New York, NY.
