ElevenLabs vs Otter.ai

By valuation, ElevenLabs is the larger company at $11B versus $300M — a 36.7x difference. Size can also be measured by team: ElevenLabs employs 200 people while Otter.ai has 150 employees.

ElevenLabs has raised more in total funding at $791M, compared to Otter.ai's $70M — a gap of $721M. Combined, the two companies have completed 7 known funding rounds.

ElevenLabs leads with an Awaira Score of 81/100, while Otter.ai sits at 64/100. That 17-point gap reflects real differences in funding, scale, and traction — it's not a vanity metric.

ElevenLabs was founded by Mati Staniszewski in 2022. Otter.ai was founded by Sam Liang in 2016. Visit each company's profile on Awaira for a full founder biography.

ElevenLabs: ElevenLabs is an AI audio company founded in 2022 that specializes in text-to-speech (TTS) and voice synthesis technology. The company develops artificial intelligence models that convert written text into natural-sounding spoken audio across multiple languages and voices. Its core platform enables developers and enterprises to integrate advanced voice generation into applications, products, and services. The company's technology focuses on neural voice synthesis, producing audio that closely mimics human speech patterns, intonation, and emotional nuance. ElevenLabs offers both API access for developers and a web-based platform for content creators, allowing users to generate voiceovers, audiobooks, podcasts, and multilingual content at scale. With a Series D valuation of $11.0 billion and total funding of $791 million, ElevenLabs ranks among the most well-capitalized AI audio startups. The company competes in the growing text-to-speech market alongside established players and emerging competitors focused on voice AI. ElevenLabs serves use cases spanning education, entertainment, accessibility, and business applications. The platform supports numerous languages and offers customizable voice parameters. The company has demonstrated significant adoption and growth since its 2022 founding, establishing itself as a notable player in the AI audio landscape through rapid scaling and substantial investor backing. ElevenLabs has achieved unicorn status within two years of founding, reflecting exceptional market demand for accessible, high-quality AI voice synthesis technology. Otter.ai: Otter.ai is an AI-powered transcription and meeting notes platform founded in 2016 and headquartered in the United States. The company develops automatic speech recognition technology that converts audio and video content into searchable, editable text transcripts in real-time. Its core product enables users to record meetings, interviews, lectures, and podcasts, automatically generating accurate transcriptions with speaker identification and timestamps. The platform serves multiple use cases across professional and educational sectors, including legal documentation, medical note-taking, business meetings, and content creation. Otter.ai integrates with popular communication tools like Zoom, Microsoft Teams, and Google Meet, allowing seamless meeting capture and transcription. The company employs machine learning models trained on diverse audio datasets to improve accuracy across different accents, technical terminology, and background noise conditions. As of the latest available data, Otter.ai has raised $63 million in total funding and maintains a valuation of $300 million, placing it in Series B stage. The company competes with established transcription services and emerging AI audio platforms. Its competitive advantages include real-time transcription capabilities, integration ecosystem, and consumer-accessible pricing tiers. The audio intelligence market has experienced significant growth as remote work and digital collaboration expand, positioning Otter.ai within a rapidly expanding sector focused on converting spoken content into structured, searchable data. Otter.ai democratizes transcription through AI-powered real-time speech-to-text technology integrated directly into workplace communication platforms.

Otter.ai got there first, launching in 2016 — that's 6 years of extra runway. ElevenLabs didn't arrive until 2022. In AI, that kind of head start means more training data, deeper customer relationships, and a bigger talent moat.

ElevenLabs has about 200 employees; Otter.ai has about 150. A bigger team usually means more revenue or heavier VC backing, but in AI, small teams can build at massive scale.

Yes — they're direct rivals. Both ElevenLabs and Otter.ai compete in AI Audio, targeting many of the same buyers. If you're evaluating one, you should be looking at the other.