ElevenLabs gains unicorn status after latest fundraising
Artificial intelligence (AI) startup ElevenLabs has gained unicorn status after its latest round of fundraising , a person familiar with the matter said, as surging investor interest for generative AI Technology sends startup valuations soaring. ElevenLabs on Monday said it raised $80 million in Series B funding from investors led by venture capitalist Andreessen Horowitz along with entrepreneurs Nat Friedman and Daniel Gross, with participation from Sequoia Capital among others. The two-year-old firm did not disclose a valuation but the person said the round valued it at $1.1 billion, making it a unicorn - or billion-dollar startup. That marks a jump from the $100 million valuation in its previous funding around in 2023, showed data from PitchBook, reflecting expectations for a surge in adoption of AI voice generation by firms as varied as games giants and movie studios. Headquartered in London, ElevenLabs has developed AI models and tools for creating AI-generated voices wi...