ElevenLabs vs HeyGen

ElevenLabs — Application · Private · $11B valuation · 4 of 4 figures sourced  |  HeyGen — Application · Private · $500M valuation · 4 of 4 figures sourced

Relationship

Dubbing and HeyGen Video Translator do comparable work on text to speech and translation; smaller scale (private).

Assembled from the recorded fields for this pair, not hand-checked. The comparison below is read from each company’s own profile.

3 of 12 capabilitiesShared product typeSmaller scale

3 of 12 capabilities — Shares text to speech, translation and video generation.

Ludbee capability tags · from the product records

Shared product type — Both ship API service and application.

Ludbee product records

Smaller scale — HeyGen: $500M valuation, against ElevenLabs's $11B valuation.

Ludbee scale figures · valuation, market cap or revenue estimate

Aligned comparison

FieldElevenLabsHeyGen
Valuation$11B$500M HeyGen has 22× smaller
Employees450120 HeyGen has 3.8× fewer
Founded20222020 2 yrs earlier
StatusPrivatePrivate match
CategoryApplicationApplication match
Stack layerAPI service, Agent platform, ApplicationAPI service, Application
HeadquartersNew York, USALos Angeles, USA

Capability overlap

Shared · 3

Text to speechTranslationVideo generation

Not verified for HeyGen · 9

Audio editingCustomer supportImage editingImage generationMusic generationSpeech to textVoice agentVoice conversionWorkflow automation

Recorded for ElevenLabs. HeyGen’s product records say nothing either way — a missing record is not a missing capability.

Not verified for ElevenLabs · 1

Avatar video

Recorded for HeyGen. ElevenLabs’s product records say nothing either way — a missing record is not a missing capability.

Products, side by side

Algorithmic pairing — assembled from recorded fields, not hand-checked

ElevenLabs

Application

AI Voice ChangerApplication

Real-time and file-based voice conversion tool that changes a recorded voice while preserving its original performance.

Ads EngineApplication

Localizes and refreshes advertising creative across 50+ languages, with audio dubbing, image adaptation and text translation for Google Ads and Meta Ads.

DubbingApplication

Audio-to-audio dubbing across 90+ languages and accents that conditions on source performance (not a transcript) to preserve emotion and tone, with voice cloning.

ElevenCreativeApplication

AI-native creative workspace unifying voice, music, sound-effect, image and video generation with dubbing/localization, editable in a browser Studio.

ElevenCreative FlowsApplication

Chains image, video, voice and SFX generation into automated visual flows to create unlimited campaign variations from one template.

ElevenLabs Voice CloningApplication

Instant and Professional voice cloning (IVC/PVC) that creates a synthetic replica of a speaker's voice.

ElevenMusicApplication

Music generation, remixing and creation product ("Listen, remix, and create tracks"), built on the Music v2 engine, targeted at independent musicians.

Image to Video AI ConversionApplication

Creates videos from images and integrates AI voice, using a credit-based system.

StudioApplication

End-to-end workflow for producing audiobooks, podcasts and narrated videos, integrating Voice Library, Voice Design, Professional Voice Cloning and Eleven Music.

Text to Sound EffectsApplication

Generates sound effects from text prompts, with royalty-free commercial usage rights on paid plans.

Voice DesignApplication

Generates customized synthetic voices from text descriptions, powered by the Text to Speech v3 model.

Voice IsolatorApplication

Removes background noise, isolates vocals and removes music from audio or video recordings.

API service

ElevenAPIAPI service

Unified programmatic API for ElevenLabs' audio AI models (speech, voice, music, sound effects, dubbing, transcription), billed per usage from the shared credit pool.

ElevenLabs Text to SpeechAPI service

Generates speech from text in a range of voices and languages, in the browser and through an API.

ScribeAPI service

Transcribes audio to text with speaker labels and word-level timings.

HeyGen

Application

HeyGenApplication

Generates presenter videos from a script using synthetic avatars, including avatars cloned from a person.

HeyGen Video TranslatorApplication

Re-voices an existing video into another language and matches the speaker's lip movement to the new audio.

API service

HeyGen APIAPI service

Hosted API for avatar video generation, translation and voice cloning, billed through the same HeyGen account and credit plans as the core product.

LiveAvatarAPI service

Real-time interactive avatar API with unlimited concurrency, billed per minute of streaming and falling to $0.01/min at the top volume tier.

No counterpart

ElevenLabs sells these in a stack layer with no product recorded for HeyGen yet — nothing on the other side to compare them against.

Agent platform

ElevenLabs AgentsAgent platform

Builds and runs voice AND chat agents that handle customer conversations over the phone, on the web and in chat, with enterprise integrations into CRM, payment and calendar systems.