ElevenLabs: From Polish “Szeptanka” to an $11 Billion AI Voice Hegemony

ElevenLabs is no longer just a startup. It stands as Poland’s most valuable technology export, defying the “AI hype cycle.” Founded by Mati Staniszewski and Piotr Dąbkowski in 2022, it has become a major focus for investors, venture capitalists, and technology journalists alike.

From their pre-seed round in January 2023 to their Series D, they have raised $781 million, with their valuation ramping up to $11 billion, making them the most valuable Polish company today. By mid-2025, the platform had registered over one million users. So, what factors influenced the massive popularity of ElevenLabs? Are they simply the “golden child” of Silicon Valley?

Szeptanka – A Trauma of Polish Children

Polish movies are unique. The average foreign film is dubbed by a single male lector, regardless of whether the character is a child, a woman, or even a dog. It is called szeptanka. While Polish audiences have grown used to it over the years, Mati and Piotr, the co-founders of ElevenLabs, did not. Both come from Poland and attended high school there. Mati graduated from Imperial College London and worked at Opera Software, BlackRock, and Palantir. Piotr, a close friend of Mati, took a different path: he is an alumnus of Oxford (Engineering) and Cambridge (Philosophy). He previously worked at Google, where he gained the machine learning experience that proved crucial for their future startup. Their idea was simple: to improve the quality of voice-overs in films by replacing traditional methods with AI-driven voice acting.

Less Means Better

I am aware that these words often belong to the “motivational influencers” of TikTok, but they truly apply to ElevenLabs. Mati Staniszewski mentioned in an interview with Harry Stebbings that he personally managed the hiring process. He chose to test candidates’ real value, skills, and motivation himself instead of relying on a traditional HR department. In the beginning, ElevenLabs hired only a 30-person team to conduct research and launch the basic platform. This lean structure enabled quick pivots and rapid updates, which are essential for early-stage startups. Today, ElevenLabs employs over 120 people and continues to invest in talent across Poland and India.

Is “Addiction” Always Bad?

Not in the case of ElevenLabs. Since its founding, Mati and Piotr have paid close attention to software developers, making it easy for them to integrate ElevenLabs’ software into other companies. Today, ElevenLabs collaborates with giants like Deloitte, Stripe, Revolut, Meta, and Nvidia. They also support smaller players through their “Startup Grants” program, where small companies can access credits allowing for 680 hours of Conversational AI use. This creates a powerful network effect, building a healthy dependency where other companies’ ecosystems thrive on ElevenLabs’ technology.

From a Polish szeptanka to a start-up?

No Fighting, Just Building Bridges

Their most unique competitive advantage is their approach to voice actors. While it might have seemed that AI would make these professionals jobless, the reality is different. ElevenLabs launched a Voice Market where lectors can earn money from their own digital voices. The top-earning actors on the platform now make over $4,000 monthly. The workforce from the traditional sector is flowing toward these new technological directions. Instead of fighting employees, ElevenLabs has integrated them into its ecosystem, attracting users with a wide variety of authentic voices.

Low Latency and High Quality

Is it possible to be both the fastest and the most accurate? Yes. ElevenLabs is the proof. Looking at the MOS (Mean Opinion Score), a scale showing how closely a digital voice resembles a human (where “1” is robotic and “5” is human); ElevenLabs scores 4.54/5.0. This makes them a clear leader among competitors like Murf.ai, Resemble AI, and WellSaid Labs.

How to Build a Real Advantage and Become a Leader?

Based on the above, I can draw several conclusions:

• Education and experience really matter.


• The right co-founder makes a huge difference.


• Build an ecosystem that is friendly to users, partners, and even your “seeming” competitors.