On January 22, 2024, ElevenLabs, a voice technology research company, announced an $80 million Series B financing round co-led by Andreessen Horowitz, Nat Friedman, Daniel Gross, with participation from Sequoia Capital, SV Angel, Smash Capital, BroadLight Capital, and Credo Ventures. Wilson Sonsini Goodrich & Rosati advised ElevenLabs on the transaction.

Since its public launch, ElevenLabs has led the industry in natural speech synthesis, enabling users to create and design AI voices across a vast swathe of languages and accents, with the ability to deliver a wide range of emotions and intonations. With this Series B investment, ElevenLabs intends to cement its position as a global leader in voice AI research and product deployment. The capital will be put into advancing research, expanding infrastructure, developing new products for specific verticals, and enhancing safety measures to ensure responsible and ethical development of AI technology.

The Wilson Sonsini team that advised ElevenLabs on the transaction included Mark Baudler, Jocqui Kaup, Chris Paniewski, Angela Loc, Jack Miller, Michelle Geller, Mary O’Brien, Joshua Gruenspecht, Jahna Hartwig, Maneesha Mithal, Kimberley Biagioli, Amy Simmerman, Ryan Hart, Cédric Burton, Laura De Boel, Matthew Staples, and Michael O’Brien.

For more information, please see ElevenLabs' blog post. Additional coverage can be found on TechCrunch and Reuters.