Funding round
ElevenLabs Series A
ElevenLabs, which works in AI audio technology development in London, raised $19M in a Series A round announced on 20 Jun 2023, led by Andreessen Horowitz, Nat Friedman and Daniel Gross. 10 firms took part, with 1 individual investor. It is ElevenLabs' second venture round on record; the one before was a Pre-seed in Jan 2023.
$19M
Amount raised
Not disclosed
Post-money valuation
10
Investors
3 leads
Valuation
What this round says about the price
ElevenLabs did not disclose a valuation in this round. It came 5 months after ElevenLabs' Pre-seed. It is 1.8% of the $1.08B ElevenLabs has raised in the venture rounds on record. ElevenLabs raised again 7 months later: a Series B round of $80M in Jan 2024, at $1.10B post-money.
ElevenLabs' funding rounds
ElevenLabs has 6 venture rounds on record. This one is highlighted.
- Pre-seed 23 Jan 2023, led by Credo Ventures $2.0M
- Series A this round 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
Andreessen Horowitz, Nat Friedman and Daniel Gross led the round with 7 other firms.
Lead investors
- Andreessen Horowitz backs 722 venture-backed companies new investor
- Nat Friedman new investor
- Daniel Gross new investor
Also in the round
- backs 37 venture-backed companies new investor
- backs 24 venture-backed companies new investor
- backs 10 venture-backed companies new investor
- SV Angel backs 293 venture-backed companies new investor
- Embark Studios new investor
- Storytel new investor
- TheSoul Publishing new investor
Individual investors: Tim O'Reilly. Joined the board: Andreessen Horowitz (Andreessen Horowitz).
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
1,500 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $11M, and this round was 1.7 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 9 Jun 2023 | $45M | not disclosed | not named |
| Tech Companies | 11 Jun 2023 | $43M | not disclosed | Andreessen Horowitz and a16z crypto |
| Tech Companies | 1 Jun 2023 | $33M | not disclosed | Andreessen Horowitz |
| Tech Companies | 28 Jun 2023 | $25M | not disclosed | CRV |
| Tech Companies | 27 Jun 2023 | $23M | not disclosed | Paladin Capital Group |
| Tech Companies | 29 Jun 2023 | $20M | not disclosed | LB Investment |
| Tech Companies | 1 Jun 2023 | $20M | not disclosed | not named |
| Tech Companies | 23 Jun 2023 | $20M | not disclosed | PeakSpan Capital |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did ElevenLabs raise in its Series A round?
ElevenLabs raised $19M in its Series A round, announced in Jun 2023.
Who led ElevenLabs' Series A round?
Andreessen Horowitz, Nat Friedman and Daniel Gross led it, with Credo Ventures, Concept Ventures, Creator Ventures, SV Angel and Embark Studios and 2 more.
What was ElevenLabs' valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
1,500 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $11M, and this round was 1.7 times the median.
Did ElevenLabs raise again after this round?
Yes: a Series B round in Jan 2024 of $80M at $1.10B post-money.