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WellSaid Labs Raises $10M to Expand AI-Based Text-to-Speech Platform

WellSaid Stock 400x275

July 7, 2021

WellSaid Labs, which is developing artificial intelligence-based text-to-speech technology, has announced raising $10 million in a Series A round. The company said it will use the funding to drive further AI and product innovation, scale go-to-market functions, and grow its team.

The funding round was led by FUSE, with participation from previous investor Voyager, as well as  Qualcomm Ventures, and GoodFriends. WellSaid Labs said the Series A round was oversubscribed with interest from VCs, given the company’s record year-over-year growth in revenue and customer demand.

The company aims to offer businesses and brands high quality text-to-speech (TTS) services, empowering content creators and product teams to create engaging voice content for infinite use cases in streaming services, radio, programmatic advertising, digital marketing, and corporate training content. The company said it re-architected TTS to resolve a company’s toughest content development problems and deliver easier ways for creators to develop content in one consistent voice that represents their brand. The WellSaid Labs’ Voice Avatar library gives access to multiple read styles and tones that anyone can use for their productions. In addition, brands can create their own AI Voice Avatars – capturing the likeliness, style, and uniqueness of the voice needed to tell their stories.

“Plain and simple, WellSaid is the future of content creation for voice,” said Cameron Borumand, general partner at FUSE. “This is why thousands of customers love using the product daily with off-the-charts bottom-up adoption.”

Getting an AI to sound natural has been considered a “grand challenge” in the field of AI, and has been a research goal for decades, said WellSaid Labs. Over the last three years, the company said it has consistently researched and developed breakthroughs in the quality, speed, and reliability of neural text-to-speech systems. In June 2020, the company’s text-to-speech became the first to achieve human parity for naturalness on short audio clips across multiple voices.

“We’ve added AI Voice to the toolkit of thousands of content creators and their teams,” said Matt Hocking, CEO of WellSaid Labs. “Our human-parity AI voice can be produced faster than real-time, and updated on-demand. This opens up new and exciting opportunities to “add voice” where it was never before perceived. AI voice easily ensures every production can be created and updated efficiently at scale.”

“Recent developments in TTS technology using generative AI have enabled synthetic voices to sound very human-like, finding exciting new applications for voice including e-learning, advertising and news readers,” said Carlos Kokron, vice president at Qualcomm Technologies and managing director at Qualcomm Ventures Americas. “WellSaid Labs provides an industry-leading product that generates highly accurate human-like voices. We look forward to working with WellSaid Labs to help fuel the creator economy with human-parity AI Voices across mobile and IoT.”

The company’s WellSaid studio eliminates complexities associated with traditional TTS for creatives – making the production, updating, and publishing of voiceovers easier and more cost effective, WellSaid added. Product developers can access the core AI engine via real-time APIs to power up digital experiences with a reliable and scalable voice infrastructure.

For more details on the company and its offerings (and to hear samples), visit the WellSaid Labs website here.

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