ElevenLabs, a voice replication startup, has garnered $80 million in a Series B funding round, reaching a total of $101 million raised.

The latest funding values the company at over $1 billion.

The funds will be allocated to product development, infrastructure expansion, team building, AI research, and enhancing safety measures.

The company is planning to venture into media production, including dubbing films and creating AI actors.

ElevenLabs has partnerships with media companies and is already used by 41% of Fortune 500 companies.

Concerns about the misuse of deepfake technology have prompted the company to implement measures against abusive users and develop detection tools.

ElevenLabs aims to launch a marketplace for voices where creators can be paid.

The company has a vision to become the global leader in voice AI research and product deployment, maintaining an ethical approach to AI development.