ElevenLabs Breaks New Ground in Voice AI Technology with $19M Funding
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Overview
AI startup ElevenLabs, founded by former Google and Palantir employees, has announced a successful Series A funding round of $19 million. Led by Andreessen Horowitz (a16z), other key investors include former Github CEO Nat Friedman, former Apple AI leader Daniel Gross, Instagram’s co-founder Mike Krieger, Oculus VR co-founder Brendan Iribe, amongst others. Specializing in advanced text-to-speech and voice cloning tools, ElevenLabs is creating a revolution in the field of speech synthesis. The startup has launched products such as Speech Synthesis, VoiceLab, and a unique AI Speech Classifier. These tools translate written text into professional audio, clone voices from short audio snippets, and distinguish if an audio clip contains AI-generated sound from ElevenLabs.
Future product plans include an innovative AI dubbing tool, which will transform an existing speech recording into different languages, maintaining the original voice. Also in the pipeline is Publisher Projects, an app that can modify a speaker's pace, insert pauses, and assign voices to different text sections.
ElevenLabs is already serving over a million creators and developers across various industries, generating more than a decade's worth of audio content. Early customers include audiobook publisher Storytel, game developer Paradox Interactive, and an AI-centric podcast by entrepreneur Seth Godin.
Highlighting the company's commitment to dissolving language barriers and ensuring safety and responsibility, ElevenLabs co-founder Mati Staniszewski stated, "Our mission is to put all audiences within reach of content creators in a safe and responsible way." Recognizing the potential misuse of voice-cloning technology, the company has published a “Voice Cloning Guide” to prohibit the misuse of their technology for harmful purposes.
Key Takeaways:
ElevenLabs, an AI startup specializing in text-to-speech and voice cloning technology, has raised $19 million in a Series A funding round.
The company offers several unique products and plans to launch an AI dubbing tool and an audio production app.
With a commitment to safety and responsibility, ElevenLabs has released a "Voice Cloning Guide" to prevent technology misuse.
Despite the intense competition, the startup has succeeded in attracting over a million creators and developers and boasts a diverse client base. Source