Credo Ventures joins €17.3M round for ElevenLabs, voice technology research company 

London-based AI voice technology startup ElevenLabs has secured €17.3 million in a Series A round to continue its voice AI research and product deployment. The investment was co-led by angel investors with further participation from Credo Ventures, Concept Ventures, and others. 

  • Established in 2022, ElevenLabs is a voice technology research company developing text-to-speech software for publishers and creators. ElevenLabs tools can turn any text into speech using synthetic voices, cloned voices, or by creating entirely new artificial voices that can be tailored according to gender, age, and accent preferences. 
  • AI platform ElevenLabs has now attracted over 1 million registered users. The startup has also launched a range of B2B partnerships, including with audiobook publisher Storytel, global content creator platform TheSoul Publishing, game developers like Embark Studios and Paradox Interactive, and the creative media platform MNTN.
  • On February 2023 ElevenLabs raised $2 million in a pre-seed round led by Credo Ventures, with Concept Ventures’ participation. 
  • The fresh series A round was co-led by Nat Friedman, Daniel Gross, and Andreessen Horowitz, with further participation from existing Czech VC fund Credo Ventures, and UK’s pre-seed fund Concept Ventures. An array of strategic angel investors also participated in the round. 

“Our mission is to be the ultimate tool for storytelling, dissolving language barriers and putting all audiences in the reach of all content creators in a safe and responsible way. With an incredible, growing team and these exceptional investors, ElevenLabs is now ever closer to realizing its long-term goal of making all content universally accessible in any language and in any voice,”

Mati Staniszewski, CEO and co-founder of ElevenLabs, commented.
  • This investment will be used to continue building ElevenLabs’ research hub for Voice AI and to launch a range of additional products to support specific market verticals such as publishing, gaming, entertainment, and conversational applications.