ElevenLabs specializes in generative speech AI technology. It offers two main solutions:
1) Speech Synthesis: Its flagship product is a browser-based, AI-powered text-to-speech software that can generate lifelike speech by synthesizing vocal emotion and intonation in 32 languages (August 2024) and 120 voices (April 2024). The software adjusts its delivery based on the contextual input it receives, producing natural-sounding output. It also offers advanced features such as a dubbing studio, speech-to-speech conversion, and text-to-speech API.
2) Voice Lab: Offers a voice-cloning service that enables the creation of nearly identical vocalizations from a short audio sample and a platform for generating long-form speech in any language and voice. It extends its GenAI capabilities to provide solutions for a variety of applications, including voiceovers, text reading, and creating synthetic voices.
In January 2024, the company was valued at more than USD 1 billion.
Key customers and partnerships
As of April 2024, its customers included LUKEMAN LITERARY, HarperCollins Publishers, Storytel, MNTN, The Washington Post, and Magicave.
ElevenLabs collaborates with a wide range of partners, including voice actors, educational institutions, creators, and partners. Notable partnerships include D-ID, a leader in GenAI and creative media, to integrate ElevenLabs voices into D-ID's GenAI platform in August 2023, and Loccus, a developer of AI solutions in the voice security space, in October 2023, to develop ethical standards and solutions for AI and voice deep fake detection systems. In April 2024, ElevenLabs and AudioStack, an AI audio production company, partnered to expand AI voice options with 66 new human-like voices to increase the efficiency and creativity of audio production.
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