Poland gets another unicorn after ElevenLabs raises €73M in Series B round
ElevenLabs, a Polish-founded voice tech company, has raised €73 million in a Series B funding round. Andreessen Horowitz, Nat Friedman, and Daniel Gross co-led the round, joined by Czechia’s Credo Ventures among others. Following the round, ElevenLabs valuation has reached $1 billion achieving a unicorn status, TechCrunch reports.
About ElevenLabs
- Established in 2022 by two Polish engineers Mati Staniszewski and Piotr Dabkowsk, ElevenLabs is a voice technology research company developing text-to-speech software for publishers and creators. Its features are powered by an in-house developed deep learning model for speech synthesis which realistically renders human intonation and can adjust delivery based on context.
- So far, ElevenLabs’ users have generated over 100 years of audio materials. The firm grew from 5 to 40 employees. According to Mati Staniszewski, ElevenLabs technology is currently being used by employees at 41% of Fortune 500 companies.
Our ambition remains the same – to transform how we interact with content by breaking down language and communication barriers. We’re building cutting-edge technology to make content accessible across languages – and voices – to enable everyone to connect with information and stories that matter. Our progress so far is a testament to our dedicated team and investors, and while it’s still only the beginning of our journey, together we’re helping shape the future of accessibility and communication,
Mati Staniszewski, CEO and co-founder of ElevenLabs, said to EU-Startups.
Who are the investors?
- Prominent global investors Andreessen Horowitz, Nat Friedman, and Daniel Gross co-led the Series B round.
- Investment funds including Sequoia Capital, SV Angel, Smash Capital, BroadLight Capital also joined the round along with Czechia’s early-stage VC fund Credo Ventures, which has been supporting the startup since its pre-seed round.
What’s next?
Following the Series B round, ElevenLabs’ valuation has reached $1 billion in under two years making it another successful unicorn company founded by Poles. The company will utilize the fresh capital to further cement its position as the global leader in voice AI research and product deployment.