London-based ElevenLabs, a rising star in voice cloning, has achieved unicorn status after raising $80 million in its Series B funding. The company introduces innovative AI products set to revolutionize the audio content interaction landscape.
The company states that it will channel the newly acquired funds towards advancing research. They will be expanding infrastructure, developing targeted products for specific verticals, and fortifying safety measures to ensure responsible and ethical development of AI technology.
The Series B round was co-led by prominent investors, including Andreessen Horowitz, Nat Friedman, and Daniel Gross. It also saw participation from Sequoia Capital (NASDAQ:SEQUX), Smash Capital, SV Angel, BroadLight Capital, and Credo Ventures (NASDAQ: CRDO). This diverse group of investors highlights the increasing significance of ElevenLabs in the field of voice AI.
Piotr Dąbkowski, the CTO of ElevenLabs, said, “Our team’s dedication has already made a lasting impact on voice AI. This new funding enables us to take on even bigger challenges and focus on maintaining our competitive edge in research and product development.”
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ElevenLabs unveils more innovative AI products
In addition to the funding announcement, ElevenLabs has ushered in a new era in audio content interaction by introducing several cutting-edge AI products.
Firstly, the use of their Dubbing Studio Workflow empowers users to dub entire movies with precision, offering control over transcripts, translations, and timecodes. This feature supplements the existing AI dubbing capability, enabling seamless end-to-end video localization across 29 languages.
Following that, the company’s Voice Library Marketplace now allows users to monetize their voices by creating professional AI voice replicas. Creators have the opportunity to verify and share their voices on the marketplace. Alongside, the original creators receive compensation whenever their verified voices are utilized.
Lastly, The Mobile App Reader (Early Preview) facilitates the instant conversion of text and URLs into audio. This feature provides users with accessibility to content while on the move. The company is offering a free introductory trial of the app for the first three months, and it has opened a waiting list for early adopters.
Furthermore, ElevenLabs places a strong emphasis on the safe and responsible development of AI, considering it a top priority. The company introduced an AI Speech Classifier last year, capable of verifying if an audio sample contains ElevenLabs-generated content. Their plans for the upcoming year include enhancing the Classifier’s capabilities. This will enable it to cover more voice AI models and collaborating with other distribution platforms for broader implementation. The startup is actively developing safeguards to enhance safety in the public domain.
ElevenLabs has been a trailblazer in natural speech synthesis, empowering users to create AI voices across languages and accents. The technology has found applications in diverse fields, including audience experiences, education, audiobook publishing, entertainment, and personal use. The company’s commitment to innovation and responsibility positions it as a key player in the evolving landscape of AI-driven voice technology.
zartasha@mugglehead.com
