SAN FRANCISCO: Nvidia-backed Voice AI startup ElevenLabs secures $500 million Series D funding at $11 billion valuation, more than tripling its worth from $3.3 billion just one year ago as enterprise adoption accelerates across conversational AI platforms.
Sequoia Capital led the investment, with partner Andrew Reed joining the board to steer global scaling efforts. Power players like Andreessen Horowitz boosted their position fourfold, ICONIQ tripled their commitment, and fresh capital flowed from Lightspeed Venture Partners, Evantic Capital, and BOND – building on Nvidia’s earlier support.
Cumulative funding now stands at $781 million since the 2022 launch. ElevenLabs has advanced from speech-to-text, real-time dubbing, music generation, and intelligent conversational AI agents to Eleven v3 Conversational model.
The numbers tell a growth story for the ages: ElevenLabs surpassed $330 million in annual recurring revenue (ARR) by late 2025, vaulting from $100 million in under two years. Big-name clients, including Deutsche Telekom, Revolut, Square, and the Ukrainian Government are powering this momentum and merging accessible creator tools with robust enterprise platforms.
Co-founders Mati Staniszewski and Piotr Dabkowski plan to channel proceeds into “ElevenAgents” and “ElevenCreative,” fusing audio innovation with video and proactive AI capabilities.
ElevenLabs keeps pushing its global footprint, now spanning key hubs like London, New York, San Francisco, Warsaw, Dublin, Tokyo, Seoul, Singapore, Bengaluru, Sydney, São Paulo, Berlin, Paris, and Mexico City.
For investors and industry watchers, this positions ElevenLabs as an IPO frontrunner. Amid 2025’s AI funding wave in the U.S. Projections hint at $700 million ARR by mid-2026. Potentially commanding 28x revenue multiples as voice interfaces redefine human-tech interaction. With hubs sprouting in 14 cities, enterprise adoption should accelerate, cementing speech AI’s role in a trillion-dollar agent economy.
Tech portfolios eyeing the next big shift can’t ignore this voice revolution.
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