The sources say that Elevenlabs collected a new 3 billion USD round led by Iconiq Growth
Companies that want to integrate the sound of artificial intelligence in their products to work with ElevenLabs, the startup that works to develop artificial sound technology such as sound cloning and dubbing tools. ElevenLabs is now increasing the volume of its business by a huge increase in the chain C, just one year after the big series B.
The startup of the New York C series closed a chain of $ 250 million, with a rating of 3 billion dollars, 3.3 billion dollars, multiple sources told Techcrunch. Many people said the tour is led by Iconiq Growth. Andrink Horwitz, one of the main investors in the company 80 million dollar chain b In January 2024, another name was mentioned as a possible investor in this tour. ElevenLabs, Iconiq Growth and Andressen Horowitz did not respond to our request for comment.
For months, Investors were scrambling to invest in ElevenLabs After a huge growth period for the company, thanks to the artificial intelligence -supported sound technology Getting used to everywhereTECHCRUNCH was the first to submit a report in October.
Against the background of the strong business path, the sources tell us that ElevenLabs was initially looking for $ 4 billion in financing. But the 3 billion dollars evaluation is still three times the assessment of the unicorn that the company reached in the series B year ago. One of the sources said that the company is preparing to announce the tour this month, so the official confirmation may come on any day.
The ElevenLabs donation campaign comes after a few strong years for the company and the industry on a broader scale. The company was founded in 2022 by Matti Stansevsky and Piot Dabkovsky, who previously worked in Palantir and Google, respectively. These two friends were from Poland since childhood, and they were inspired by the poor quality of dubbing in the American videos that they saw when they were growing up, and they saw an opportunity to use artificial intelligence to develop something better.
Their idea was a clear example of the right idea and the right time. Since obstetric artificial intelligence services have become more advanced, the multimedia appeared in the introduction, and there was a growing interest in building applications that include sound and video along with Genai text services.
ElevenLabs released its first demo product in January 2023And by the time it was raised Series a value of $ 19 million In June 2023, it spread widely.
Some of this growth was not free of controversy, with stories Fake news is created using its technology. But with ElevenLabs developed a wide range of detection tools and other guarantees to prevent misuse, it has emerged as a major partner to enable speech -based services for an increasing number of prominent companies.
Its technology is useable via the API programming interface (API) and At a price of a number of levels of useCovering a wide range of use cases: translating the text into words (in multiple languages), cloning sounds, changing sounds in an audio path, and creating completely new sounds; In addition to other sound editing tools.
Customers include other technical platforms such as SynthesisThe startup to convert the text into a video that works with companies and announced itself Rapid donations of $ 180 million Earlier this month; Publishing giants such as the Washington Post, Harper Collins and Berlsmann, which says 36 companies use ElevenLabs to create their content; Games and others.
Use led to a rapid rise in sales. In October, the sources told us that the repeated annual revenue (ARR) of ElevenLabs increased from $ 25 million in 2023 to 80 million dollars. Two people in November estimated that the annual rate of return was probably closer to $ 90 million. If the last number was accurate, the evaluation of $ 4 billion would have put its evaluation double at 44 times the annual return rate; In the end, the deal appears to have been made with a more moderate double -Moderate double.
For some context on this number, these are not the most vital assessments today: it seems that investors are ready to pay up to 50 times the annual return rate of the fastest growing obstetric intelligence companies.
Anysphere, the manufacturer of the famous Cursor Cursor Program for AI, has received many unwanted offers that are estimated at $ 2.5 billion, which translates into about 52 times the average annual rate of return (ARR). Tech Krank mentioned In November. The company witnessed a growth in its revenues from $ 4 million in repeated annual revenues (ARR) in April to 4 million dollars per month starting last month. (The annual return rate is usually calculated by hitting the last monthly revenue in 12). However, by the time when the deal, which was led by Thrive, was announced with a rate of $ 2.5 billion, earlier this month, Anysphere had reached $ 100 million in the monthly return rate, the New York Times reported. This means that the value of the company was 25 times ARR.
The most moderate ElevenLabs complications may be the function of the company’s competitor, which includes a large number of startups but also giants like Google and Openai.
Among the former supporters of the company are Sikoya, Credo Ventures, Condins Vetshers, Silzphors Vetshers, Disney, and nearly twenty of the prominent angels.
