Why We Invested · Craft Ventures
Investment thesis
ElevenLabs is rapidly executing on the opportunity to build the modern AI customer support platform.
they have a huge opportunity to build the modern customer support platform for the AI age, and are quickly executing on that opportunity
Why the firm invested
Craft Ventures invested in ElevenLabs as it drives the primary groundswell for AI voice technology.
While the world experienced the collective “ChatGPT moment” nearly four years ago, ElevenLabs is building the same groundswell for voice as we speak.
Product
ElevenLabs develops highly reliable, expressive text-to-speech and speech-to-text models alongside creative and business tools.
they are creating some of the most reliable, beloved, and expressive text-to-speech (and speech-to-text) models on the planet.
Traction
ElevenLabs serves enterprise clients including Disney, Twilio, Cisco, Meta, Nvidia, Revolut, Salesforce, and T-Mobile.
enterprise customers include Disney, Twilio, Cisco, Meta, Nvidia, Revolut, Salesforce, T Mobile, and more.
ElevenLabs has exceptional bottom-up, top-of-funnel, and self-serve traction relative to other tech companies.
ElevenLabs has some of the best bottom-up, top-of-funnel traction (and self-serve traction) of any technology company we’ve ever seen.
ElevenLabs reached $500M in ARR four years after being founded.
We are thrilled to partner with Mati and Piotr, who just announced that ElevenLabs has crossed $500M of ARR after founding the company four years ago.
Team
ElevenLabs was founded by Mati and Piotr four years ago.
We are thrilled to partner with Mati and Piotr, who just announced that ElevenLabs has crossed $500M of ARR after founding the company four years ago.
What founders can learn
- What actually moved the decision: Craft Ventures wrote that Craft Ventures invested in ElevenLabs as it drives the primary groundswell for AI voice technology.
- The traction evidence that carried weight: Craft Ventures wrote that ElevenLabs serves enterprise clients including Disney, Twilio, Cisco, Meta, Nvidia, Revolut, Salesforce, and T-Mobile.
- How the team was judged: Craft Ventures wrote that ElevenLabs was founded by Mati and Piotr four years ago.
Source and provenance
Why We Invested published by Craft Ventures on craftventures.com (first-party source). Read the original
