ElevenLabs, an AI startup with a focus on voice generation and synthesis, is proudly announcing a successful Series B funding round worth $80 million and the launch of several new AI audio apps. The funding round was led by Andreessen Horowitz, Nat Friedman, and Daniel Gross, and joined by Sequoia Capital, Smash Capital, SV Angel, BroadLight Capital, and Credo Ventures.
This will allow ElevenLabs to ” strengthen its position as the leader in voice AI.” This funding will be used to refine the company’s products and allow for a safer deployment of AI technology, says the blog post from ElevenLabs.
As mentioned earlier, ElevenLabs specializes in natural voice generation through AI in a variety of languages and accents. It is also able to keep emotions and intonations intact, which prevents the AI voice from sounding robotic. Ever since its launch, the startup has expanded from only 5 employees to 40 employees, while users have utilized its tool to create 100 years’ worth of audio files. Presently, ElevenLabs’ technology has found its way into the operations of a remarkable 41% of the Fortune 500 companies, cementing its place as an industry leader.
The startup’s newly announced products include Dubbing Studio, which allows creators to dub entire movies, and generate and edit transcripts, translations, and timecodes, making content production much easier.
The next one on the line is Voice Library, which will allow users to earn from AI versions of their voices in a safe and secure marketplace. These AI voice versions can easily be created, verified, and shared on the platform. The uploader will earn each time their voice is used by another user online. Voice Library users will always have control over their voice’s ability and its monetization. A small group of alpha users are already earning from the platform.
ElevenLabs has also shared an early preview of its mobile reader app, which can turn text and URLs into audio clips, allowing for easier access and portability. The app will be free for the first three months of use and users will be able to register for early access through a waiting list.