ElevenLabs triples valuation to $3.3BN, after confirming $180M funding round - Related to valuation, $180m, triples, commercial, crown
Crown secures €2M for procurement platform
Crown, a Ukrainian-founded and Paris-based enterprise that offers electronic auctions as an alternative to traditional procurement negotiations, has raised €2M in its first funding round.
This round was led by Heartfelt, with participation from Kima Ventures, Backbone Ventures, [website], Apok Invest, ZAS Ventures, Prequel VC and Bpifrance.
Other participants were business angels such as Dr. Marcell Vollmer, former COO of SAP Ariba; Christophe VIllain, Global Head of Supply Chain & Procurement Technology at Nestlé; and Mario Götze.
Crown's platform streamlines the negotiation process by enabling suppliers and buyers to finalise negotiations far more quickly; often, they are conducted over unspecialised software such as Excel and Outlook. Its founder, Mykyta Voytenko, conducted more than 300 eAuctions for FMCG companies and teaches procurement at KEDGE Business School.
“For nearly 30 years, eAuctions have been used solely to drive down prices, often in ways that lack transparency and ethics. At Crown, we see auctions not as a weapon, but as a tool—one that, when used ethically, creates win-win outcomes for buyers and suppliers.
"We believe auctions are the most powerful negotiation tool when their core purpose is achieving fairness, value, and mutual success.” he commented on the raise.
While eAuctions are Crown’s first step, the enterprise’s plan is to build a full AI-powered suite for procurement.
"We had the pleasure of meeting Mykyta, a true industry expert with exceptional skills showcased throughout his career. Born and raised in Kyiv, he has built an impressive professional journey, excelling in various corporate roles across Western Europe. From day one, our exchanges with him have been incredibly insightful and productive." noted Miklos David Stanek, Founding Partner at Backbone Ventures.
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ElevenLabs triples valuation to $3.3BN, after confirming $180M funding round
An AI startup founded by two Polish entrepreneurs has seen its valuation triple to $[website], after confirming it had raised $180m. ElevenLabs leverages AI to convert text into speech which sounds like it’s being read by human voices.
It says its AI tools are capable of replicating voices with high accuracy. For example, the tech allows consumers to hear the voices of late Hollywood icons like Judy Garland and James Dean narrating books, articles, and other digital content.
The Series C round was led by Andreessen Horowitz and ICONIQ Growth, with additional new investors, including NEA, World Innovation Lab, Valor, Endeavor Catalyst Fund and Lunate. Existing investors Sequoia Capital, Salesforce Ventures, Smash Capital, SV Angel, NFDG, BroadLight Capital also participated.
ElevenLabs noted it was also partnering with strategic investors, including Deutsche Telekom, LG Technology Ventures, HubSpot Ventures, NTT DOCOMO Ventures, and RingCentral Ventures. This latest funding values ElevenLabs at $[website] billion, tripling its valuation from 2024, when it raised $80m and was valued at over $1bn.
To date, ElevenLabs has raised a total of $281 million across four rounds since its founding in 2022. The startup says it’s a remote-first firm, which has main hubs in London, New York, and Warsaw, with London serving as its European HQ.
ElevenLabs mentioned it will use the funding to expand its research and develop new products. Specifically, it mentioned the funding would support “research into more expressive and controllable voice AI, expanding tools for developers and businesses scaling globally, and strengthening AI safety”.
In the last 12 months, ElevenLabs says it has broadened its product lineup, adding tools for speech generation, voice design, sound effects, AI-powered dubbing in 32 languages.
Mati Staniszewski, CEO of ElevenLabs, stated:
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United Fintech moves into commercial banking with CBA acquisition
A fintech group, which acquires and scales fintechs, says it has made its biggest acquisition to date, snapping up Norway-headquartered Commercial Banking Applications (CBA).
United Fintech, founded in 2020, is primarily looking to acquire and scale fintechs in the capital markets space.
Headquartered in London, United Fintech has so far acquired a handful of fintechs, employing over 160 people across eight countries. Firms acquired include Cobalt, FairXchange, TTMZero, Athena Systems and NetDania.
It has now acquired Norway-headquartered CBA for an undisclosed sum, in a deal which marks United Fintech's first move into commercial banking.
CBA specialises in API-driven trade finance and payment solutions across Europe and Asia, with its consumers including ABN AMRO.
United Fintech says by integrating CBA’s tech it will boost its offering to support financial institutions as they undertake digital transformation moves.
United Fintech says the deal was financed by equity and debt from existing investors, which include four major banks: BNP Paribas, Citi, Danske Bank, and Standard Chartered.
Christian Frahm, CEO & founder, United Fintech said:
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Market Impact Analysis
Market Growth Trend
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| 12.0% | 14.4% | 15.2% | 16.8% | 17.8% | 18.3% | 18.5% |
Quarterly Growth Rate
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 |
|---|---|---|---|
| 16.8% | 17.5% | 18.2% | 18.5% |
Market Segments and Growth Drivers
| Segment | Market Share | Growth Rate |
|---|---|---|
| Digital Transformation | 31% | 22.5% |
| IoT Solutions | 24% | 19.8% |
| Blockchain | 13% | 24.9% |
| AR/VR Applications | 18% | 29.5% |
| Other Innovations | 14% | 15.7% |
Technology Maturity Curve
Different technologies within the ecosystem are at varying stages of maturity:
Competitive Landscape Analysis
| Company | Market Share |
|---|---|
| Amazon Web Services | 16.3% |
| Microsoft Azure | 14.7% |
| Google Cloud | 9.8% |
| IBM Digital | 8.5% |
| Salesforce | 7.9% |
Future Outlook and Predictions
The Crown Secures Procurement landscape is evolving rapidly, driven by technological advancements, changing threat vectors, and shifting business requirements. Based on current trends and expert analyses, we can anticipate several significant developments across different time horizons:
Year-by-Year Technology Evolution
Based on current trajectory and expert analyses, we can project the following development timeline:
Technology Maturity Curve
Different technologies within the ecosystem are at varying stages of maturity, influencing adoption timelines and investment priorities:
Innovation Trigger
- Generative AI for specialized domains
- Blockchain for supply chain verification
Peak of Inflated Expectations
- Digital twins for business processes
- Quantum-resistant cryptography
Trough of Disillusionment
- Consumer AR/VR applications
- General-purpose blockchain
Slope of Enlightenment
- AI-driven analytics
- Edge computing
Plateau of Productivity
- Cloud infrastructure
- Mobile applications
Technology Evolution Timeline
- Technology adoption accelerating across industries
- digital transformation initiatives becoming mainstream
- Significant transformation of business processes through advanced technologies
- new digital business models emerging
- Fundamental shifts in how technology integrates with business and society
- emergence of new technology paradigms
Expert Perspectives
Leading experts in the digital innovation sector provide diverse perspectives on how the landscape will evolve over the coming years:
"Technology transformation will continue to accelerate, creating both challenges and opportunities."
— Industry Expert
"Organizations must balance innovation with practical implementation to achieve meaningful results."
— Technology Analyst
"The most successful adopters will focus on business outcomes rather than technology for its own sake."
— Research Director
Areas of Expert Consensus
- Acceleration of Innovation: The pace of technological evolution will continue to increase
- Practical Integration: Focus will shift from proof-of-concept to operational deployment
- Human-Technology Partnership: Most effective implementations will optimize human-machine collaboration
- Regulatory Influence: Regulatory frameworks will increasingly shape technology development
Short-Term Outlook (1-2 Years)
In the immediate future, organizations will focus on implementing and optimizing currently available technologies to address pressing digital innovation challenges:
- Technology adoption accelerating across industries
- digital transformation initiatives becoming mainstream
These developments will be characterized by incremental improvements to existing frameworks rather than revolutionary changes, with emphasis on practical deployment and measurable outcomes.
Mid-Term Outlook (3-5 Years)
As technologies mature and organizations adapt, more substantial transformations will emerge in how security is approached and implemented:
- Significant transformation of business processes through advanced technologies
- new digital business models emerging
This period will see significant changes in security architecture and operational models, with increasing automation and integration between previously siloed security functions. Organizations will shift from reactive to proactive security postures.
Long-Term Outlook (5+ Years)
Looking further ahead, more fundamental shifts will reshape how cybersecurity is conceptualized and implemented across digital ecosystems:
- Fundamental shifts in how technology integrates with business and society
- emergence of new technology paradigms
These long-term developments will likely require significant technical breakthroughs, new regulatory frameworks, and evolution in how organizations approach security as a fundamental business function rather than a technical discipline.
Key Risk Factors and Uncertainties
Several critical factors could significantly impact the trajectory of digital innovation evolution:
Organizations should monitor these factors closely and develop contingency strategies to mitigate potential negative impacts on technology implementation timelines.
Alternative Future Scenarios
The evolution of technology can follow different paths depending on various factors including regulatory developments, investment trends, technological breakthroughs, and market adoption. We analyze three potential scenarios:
Optimistic Scenario
Rapid adoption of advanced technologies with significant business impact
Key Drivers: Supportive regulatory environment, significant research breakthroughs, strong market incentives, and rapid user adoption.
Probability: 25-30%
Base Case Scenario
Measured implementation with incremental improvements
Key Drivers: Balanced regulatory approach, steady technological progress, and selective implementation based on clear ROI.
Probability: 50-60%
Conservative Scenario
Technical and organizational barriers limiting effective adoption
Key Drivers: Restrictive regulations, technical limitations, implementation challenges, and risk-averse organizational cultures.
Probability: 15-20%
Scenario Comparison Matrix
| Factor | Optimistic | Base Case | Conservative |
|---|---|---|---|
| Implementation Timeline | Accelerated | Steady | Delayed |
| Market Adoption | Widespread | Selective | Limited |
| Technology Evolution | Rapid | Progressive | Incremental |
| Regulatory Environment | Supportive | Balanced | Restrictive |
| Business Impact | Transformative | Significant | Modest |
Transformational Impact
Technology becoming increasingly embedded in all aspects of business operations. This evolution will necessitate significant changes in organizational structures, talent development, and strategic planning processes.
The convergence of multiple technological trends—including artificial intelligence, quantum computing, and ubiquitous connectivity—will create both unprecedented security challenges and innovative defensive capabilities.
Implementation Challenges
Technical complexity and organizational readiness remain key challenges. Organizations will need to develop comprehensive change management strategies to successfully navigate these transitions.
Regulatory uncertainty, particularly around emerging technologies like AI in security applications, will require flexible security architectures that can adapt to evolving compliance requirements.
Key Innovations to Watch
Artificial intelligence, distributed systems, and automation technologies leading innovation. Organizations should monitor these developments closely to maintain competitive advantages and effective security postures.
Strategic investments in research partnerships, technology pilots, and talent development will position forward-thinking organizations to leverage these innovations early in their development cycle.
Technical Glossary
Key technical terms and definitions to help understand the technologies discussed in this article.
Understanding the following technical concepts is essential for grasping the full implications of the security threats and defensive measures discussed in this article. These definitions provide context for both technical and non-technical readers.
platform intermediate
API beginner
How APIs enable communication between different software systemsfintech intermediate
digital transformation intermediate
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