20VC: ElevenLabs Hits $200M ARR: The Untold Story of Europe's Fastest Growing AI Startup | The Real Cost of AI from Talent to Data Centres | How US VCs are in a Different League to Europeans | The Future of Foundation Models with Mati Staniszewski

**SPEAKER_1** (0:00)
So we crossed 200 million now. So we did 20 months to 100, and then around 10 months to 200 Our biggest contract is around 2 million. Pre-seal was tough. I think we spoke with a good amount of investors. Between 30 to 50, we raised 2 million.

**SPEAKER_2** (0:16)
2 million, do you remember the price?

**SPEAKER_1** (0:18)
9 million.

**SPEAKER_2** (0:19)
This is 20VC with me, Harry Stebbings. And today we have one of the fastest growing AI companies in the world in the hot seat. So they did 20 months to $100 million in ARR, just 10 months to $200 million in ARR, which they announced exclusively in this episode's day. They've raised over $350 million, with the last round pricing them at $3.3 billion, ElevenLabs, and I'm so thrilled to welcome their co-founder, Mati, to the hot seat today. But before we dive into the show's day, I love seeing the team come together to make this show happen. What I don't love is trying to keep track of all the information, the data and the projects that we're working on across dozens of platforms, products, and tools. That's why we use Coda, the all-in-one collaborative workspace that's helped 50,000 teams all over the world get on the same page. Offering the flexibility of docs with the structure of spreadsheets, Coda facilitates deeper teamwork and quicker creativity. And their turnkey AI solution, the intelligence of Coda Brain, is a game changer. Powered by Grammarly, Coda is entering a new phase of innovation and expansion, aiming to redefine productivity for the AI era. Whether you're a startup looking to organize the chaos, while staying nimble, or an enterprise organization looking for better alignment, Coda matches your working style. Its seamless workspace connects to hundreds of your favorite tools, including Salesforce, Jira, Asana and Figma, helping your teams transform their rituals and do more faster. Head over to coda.io/20vc right now and get six months off the team plan for startups for free. That's Coda, C-O-D-A dot I-O slash 20VC and get six months off the team plan for free, Coda dot I-O slash 20VC. And while Coda keeps your team aligned, Radix makes sure your startup's name is just as sharp. This one's for all you tech founders out there. You finally come up with the perfect name for your startup, then you check the.com and damn, it's taken. Parked, unused or priced like rent in Palo Alto. So you settle with extra letters, weird spellings, whatever it takes. But hey, you don't have to compromise because now, there's finally a domain for tech founders like you. Dot tech domains. Get the startup name you actually want on dot tech. No compromises. What's more, when you use dot tech, you signal to your customers and investors that you're building tech with just your domain name. Isn't that cool? So if you've got a name in mind, search for it now with dot tech on a trusted platform like GoDaddy or visit get.tech slash 20VC to grab it. You've got the name locked down with Radix. Now it's time to get the fund structure just as solid. If you're listening to 20VC, you know we have a really fricking high bar. Well, AngelList is the modern platform used by the best in class venture funds where over 40% of top endowments and banks are LPs. Their customers include a top five venture firm, 20VC, and they now have, check this out, $171 billion of assets on the platform. They combine an all-in-one software platform with a dedicated service team that moves as fast as you do. One manager said this awesome quote, AngelList feels like an extension of my fund. Another said AngelList gives me total peace of mind, the attention to detail, lightning fast response time, and just real sense of ownership from the team are exactly what I need to stop worrying about back office ops. So if you're starting a new fund, don't be a moron. Just use AngelList. They're incredible. Head over to angellist.com/20vc to learn more. You have now arrived at your destination. Mati, dude, I cannot wait for this. I've wanted to do this one for a while. So thank you so much for joining me today.

**SPEAKER_1** (4:08)
Harry, thanks for having me. After working on a number of projects together, I'm so happy we can finally speak.

**SPEAKER_2** (4:12)
Dude, I am so thrilled we could do this. Now, I spoke to so many people beforehand, and I have to say, Luke was phenomenal on your team in prepping me so much. But I do want to start a little bit with the origins pre. You grew up in Poland, and this was Luke's. How did growing up in Poland impact your mindset towards the world and company building first?