AI audio pioneer ElevenLabs has successfully closed a $500 million Series D funding round, catapulting its valuation to an impressive $11 billion. This latest capital injection, led by renowned venture capital firm Sequoia Capital, more than triples the company's valuation from just one year prior. The funding underscores the immense market confidence in ElevenLabs' mission to transform how humans interact with technology through its advanced voice and conversational AI platforms.
Explosive Growth and Market Confidence
The funding round saw robust participation from existing investors, with Andreessen Horowitz quadrupling down and ICONIQ tripling down on their commitments. New investors including Lightspeed Venture Partners, Evantic Capital, and BOND also joined, bringing ElevenLabs' total capital raised to $781 million. As part of the deal, Sequoia Capital partner Andrew Reed will join the company's board, signaling strong strategic support for its future endeavors.
This investor enthusiasm is backed by the company's exceptional financial performance, having closed 2025 with over $330 million in annual recurring revenue. This rapid growth is fueled by the widespread enterprise adoption of its technology for diverse applications. Prominent organizations such as Deutsche Telekom, Square, and the Ukrainian Government are utilizing its platforms for customer support, citizen engagement, and internal training.
Expanding the Conversational AI Frontier
With the new capital, ElevenLabs plans to significantly enhance its enterprise platform, ElevenAgents, which enables businesses to deploy sophisticated voice and chat agents. The company is doubling down on this offering to revolutionize customer experience, sales operations, and internal workflows. This strategic focus aims to solidify its position as a leader in providing reliable, large-scale conversational AI solutions for businesses.
The funding will also fuel foundational research and immediate product upgrades, including a new conversational model that promises faster response times and greater emotional expressiveness. These improvements are powered by advancements in turn-taking systems and the company's next-generation Eleven v3 model. This commitment to innovation ensures its technology remains at the cutting edge of audio intelligence and human-like interaction.
A Vision for Global Reach and Product Innovation
A key component of the company's strategy involves aggressive international expansion to support its growing global customer base. The firm is establishing locally embedded teams in key hubs across the Americas, Europe, and Asia, including cities like Tokyo, Sydney, and São Paulo. This global footprint is designed to accelerate the worldwide adoption of its ElevenAgents and ElevenCreative platforms.
Beyond its enterprise focus, ElevenLabs continues to develop its comprehensive audio stack, including the ElevenCreative platform for content creators and the ElevenAPI for developers. These tools are already used by industry giants such as Meta, Epic Games, and Salesforce, powering experiences for over one billion users. This diverse product suite demonstrates the company's wide-ranging impact across multiple sectors of the digital economy.
This $500 million funding round marks a pivotal moment for ElevenLabs, equipping it to redefine the future of human-computer interaction. Co-founder Mati Staniszewski emphasized that the company is just getting started, with a clear vision of moving beyond voice to build a comprehensive audio intelligence platform. As ElevenLabs continues its rapid growth and innovation, it remains focused on its long-term trajectory toward a potential IPO and beyond.