ElevenLabs, an artificial intelligence company focused on audio technology, has completed a $500 million Series D funding round. The new investment places the company’s valuation at $11 billion, more than tripling its worth in the past year. Sequoia Capital led the funding round.
The company specializes in AI-driven audio solutions, positioning itself as a key player in the audio AI sector. This recent capital injection will support ElevenLabs’ continued growth and development of its technology.
**Why this matters**
The substantial increase in ElevenLabs’ valuation highlights growing investor confidence in AI applications within the audio industry. As demand for advanced audio AI tools expands, companies like ElevenLabs are attracting significant funding to innovate and capture market share.
Source: NewsData