Funding round
ElevenLabs Pre-seed
ElevenLabs, which works in AI audio technology development in London, raised $2.0M in a Pre-seed round announced on 23 Jan 2023, led by Credo Ventures. 2 firms took part, with 15 individual investors. It is ElevenLabs' first venture round on record.
$2.0M
Amount raised
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
ElevenLabs did not disclose a valuation in this round. It is ElevenLabs' first venture round on record, 7 years after it was founded in 2016. It is under 1% of the $1.08B ElevenLabs has raised in the venture rounds on record. ElevenLabs raised again 5 months later: a Series A round of $19M in Jun 2023. Its next priced round, a Series B in Jan 2024, valued it at $1.10B.
ElevenLabs' funding rounds
ElevenLabs has 6 venture rounds on record. This one is highlighted.
- Pre-seed this round 23 Jan 2023, led by Credo Ventures $2.0M
- Series A 20 Jun 2023, led by Andreessen Horowitz, Nat Friedman and Daniel Gross $19M
- Series B 22 Jan 2024, led by Andreessen Horowitz, Nat Friedman and Daniel Gross $80M$1.10B post-money
- Series C 30 Jan 2025, led by Andreessen Horowitz and ICONIQ Growth $180M$3.30B post-money
- Series D 4 Feb 2026, led by Sequoia Capital $500M$11.00B post-money
- Growth 30 Sep 2026, led by Wellington Management and T. Rowe Price $300M$22.00B post-money
Investors
Who put money in
Credo Ventures led the round with 1 other firm.
Lead investor
- backs 37 venture-backed companies new investor
Also in the round
- backs 24 venture-backed companies new investor
Individual investors: Peter Czaban, Tytus Cytowski, Talfan Evans, Dr Fatima Godall, Tomasz Karwatka, Piotr Karwatka, Akhil Paul, Bartek Pucek, Marta Pyrzyk, Carles Reina, Parin Shah, Charlie Songhurst, Harry Songhurst, Alex Macdonald and Namat Bahram.
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
542 Pre-seed rounds in Tech Companies within a year either side disclosed an amount; the median was $1.5M, and this round was 1.3 times the median. The closest in time, other companies' Pre-seed rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 1 Jan 2023 | $15M | not disclosed | not named |
| Tech Companies | 23 Jan 2023 | $5.4M | not disclosed | Quantonation |
| Tech Companies | 1 Jan 2023 | $5.0M | not disclosed | not named |
| Tech Companies | 23 Jan 2023 | $5.0M | not disclosed | vgames |
| Tech Companies | 30 Jan 2023 | $4.5M | not disclosed | Enza Capital |
| Tech Companies | 11 Jan 2023 | $4.1M | not disclosed | Shima Capital |
| Tech Companies | 12 Jan 2023 | $3.5M | not disclosed | Flybridge and MaC Venture Capital |
| Tech Companies | 23 Jan 2023 | $3.3M | not disclosed | Kindred Ventures and South Park Commons |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did ElevenLabs raise in its Pre-seed round?
ElevenLabs raised $2.0M in its Pre-seed round, announced in Jan 2023.
Who led ElevenLabs' Pre-seed round?
Credo Ventures led it, with Concept Ventures.
What was ElevenLabs' valuation at the Pre-seed round?
It was not disclosed.
How does it compare with other Pre-seed rounds in Tech Companies?
542 Pre-seed rounds in Tech Companies within a year either side disclosed an amount; the median was $1.5M, and this round was 1.3 times the median.
Did ElevenLabs raise again after this round?
Yes: a Series A round in Jun 2023 of $19M.