What do we know about the new AI Unicorn ElevenLabs? Read the article to learn about the new Voice AI superstar that raised over $1 billion.
Significant Valuation Increase
ElevenLabs’ valuation jumped to $1.1 billion, up from $100 million in its previous funding round in 2023. This increase reflects the interest and expected rise in adopting AI voice generation technologies.
Product Offerings
ElevenLabs offers tools like AI Speech Classifier to identify AI-generated audio content, and they are working on dubbing products for movies. Among their ambitions is developing a marketplace for generating and licensing AI voices.
Customer Base and Applications
ElevenLabs serves individual content creators and enterprises, including Storytel, Paradox Interactive, and The Washington Post. Its technology is also used by U.S. political campaign staff to reach voters speaking different languages.
Company Background
ElevenLabs is a British company that is based in London. The company currently has around 40 remote employees worldwide and plans to expand its workforce to 100 by the end of the year.
To read the original article posted on Reuters, please follow the link.
Augmented Expert’s View on Latest AI Innovations
ElevenLabs is an excellent example of how AI technology is explored and embraced responsibly. ElevenLabs success shows us a bigger picture of validation and acceptance of AI in both public and private sectors.
It’s time that we see the AI revolution as an opportunity to reflect on what we do in our day-to-day lives and see it through the optimization lens.
Seeing how Google, Microsoft, Deloitte, and even Walmart integrate AI into their user experiences, we can predict that generative AI will become a standard.
Moreover, integrating AI solutions is a way to raise valuation for businesses. According to this Financial Times article, investors favor companies that embrace AI.
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