ElevenLabs Nabs $80M Valued at $1.1 Billion in 18 Months
Co-led by a16z, Nat Friedman and Daniel Gross
Hey friends, what most caught my eye today is ElevenLabs’ $80M series B fundraising.
It is a company I have wanted to invest in since its day 1 launch, because there are tons of voice assets worth exploring but not yet. Here’s today's signal:
ElevenLabs, a startup developing AI-powered tools for voice cloning, has closed an $80 million Series B funding round and valued it at $1.01B, bringing its total raised to $101M, in just 18 months.
This round was co-led by a16z, former GitHub CEO Nat Friedman, and Daniel Gross, joined by Sequoia Capital, SV Angel, Smash Capital, BroadLight Capital and Credo Ventures.
Some facts from ElevenLabs Blog:
Since launch, ElevenLabs’ users have generated over 100 years of audio, while the firm grew from 5 to 40 employees. Today, ElevenLabs technology is being used by employees at 41% of Fortune 500 companies.
ElevenLabs is also unveiling several new product developments:
A new Dubbing Studio workflow that enables users to dub entire movies.
A Voice Library marketplace where users can make money from AI versions of their voices. (I believe it is a big step for ElevenLab’s future.)
An early-preview of the Mobile App reader that enables instant conversion of text and URLs into audio.
a16z said in its series A to ElevenLabs:
The human voice is one of our most primal, personal and expressive forms of communication. From a newborn’s first babbles to Martin Luther King Jr.’s “I Have a Dream” speech, voice carries not only our ideas, but also the most profound emotions and connections.
To date though, it’s been a time intensive and costly challenge for developers and creatives to incorporate high-quality voice into their work.
ElevenLabs’ pre-seed pitch deck is also worthwhile reading. Here is a brief journey of ElevenLabs from pre-seed to $1.1B in 18 months, from Conceptventures:
Plus, Flexport raised another $260M from Shopify. And, interestingly, it is an uncapped convertible note.
Flexport founder and CEO Ryan Petersen:
Since I came back to the role of CEO, our team has made massive progress toward returning Flexport to profitability.
Further strengthening our cash position with this investment should send a strong message to customers that Flexport is building a long-term sustainable business that will continue to deliver best-in-class technology and services for global businesses.




Thanks for including the pitch deck, that was cool to read