ElevenLabs achieves $3bn valuation post Series C raise

ElevenLabs, a London-based AI startup renowned for producing AI-generated audio, has attained the title of the UK's most valuable AI company following a significant funding milestone. In a recent Series C funding round, the company raised $250 million, resulting in a valuation of $3 billion. This development occurred approximately a year after the company first reached unicorn status, indicative of its rapid growth trajectory. Initially, ElevenLabs sought a $4 billion valuation; however, this figure was later adjusted. The impressive valuation elevates ElevenLabs above its competitor Synthesia, which recently achieved a $2.1 billion valuation during its Series D raise. Founded in 2022 by Polish entrepreneurs Mati Staniszewski and Piotr Dabkowski, who formerly worked at Palantir and Google, ElevenLabs is expanding its operations in London, with plans to double its workforce to approximately 100 employees. Both founders have expressed their dedication to contributing to the vibrant AI ecosystem in the UK.