ElevenLabs, a New York based AI startup specializing in voice and speech generation, has tripled its valuation to $11 billion following a $500 million funding round led by Sequoia Capital. The company was founded in 2022 by co founder and CEO Mati Staniszewski and co founder and CTO Piotr Dąbkowski with the goal of creating high fidelity, expressive AI-generated speech for creators, enterprises, and media companies.
Since its inception, ElevenLabs has gained rapid adoption among audiobook producers, video game developers, and content creators for its ability to produce realistic, humanlike voice output. Its platform also allows for voice cloning with consent, opening new possibilities in entertainment, accessibility, and enterprise applications.
The newly closed $500 million round, reported by Forbes, Reuters, and TechCrunch, underscores the surge of investor interest in generative AI beyond text and images. The funding represents a major vote of confidence in ElevenLabs’ technology and its ability to scale globally.
ElevenLabs plans to use the new capital to expand research and development, enhance safety and consent features, and grow operations internationally. The startup now ranks among the world’s most valuable private AI companies, signaling growing investor appetite for advanced generative AI solutions.
