TLDR
- ElevenLabs raised $500 million in Series D funding led by Sequoia Capital at an $11 billion valuation
- The valuation more than triples the $3.3 billion the London-based company achieved in January 2025
- Company closed 2025 with over $330 million in annual recurring revenue from enterprise clients
- Existing investors Andreessen Horowitz and Iconiq participated along with new backers Lightspeed Venture Partners
- ElevenLabs announced it is building toward an IPO while expanding its voice agent platform
ElevenLabs announced Wednesday it raised $500 million in Series D funding at an $11 billion valuation. Sequoia Capital led the round with participation from existing investors Andreessen Horowitz and Iconiq.
New investors in the round include Lightspeed Venture Partners, Evantic Capital, and Bond. The fundraise brings ElevenLabs’ total funding to $781 million across five rounds since its 2022 founding.
The new valuation represents more than triple the $3.3 billion valuation ElevenLabs achieved after raising $180 million in January 2025. Cofounder Mati Staniszewski confirmed that Nvidia invested in the company in September.
The London-based startup initially focused on AI text-to-speech technology. The company has since expanded into speech-to-text, sound effects, dubbing, music generation, and conversation tools.
ElevenLabs sells products that enable businesses to deploy voice and chat agents. Its platform allows brands and creators to generate and localize audio content.
Clients using ElevenLabs technology include publisher Time and chip manufacturer Nvidia. Tech companies Meta and Salesforce use its voice infrastructure to develop their own products and services.
Enterprise Growth Drives Revenue
The company closed 2025 with over $330 million in annual recurring revenue. This growth came from enterprise adoption by companies including Deutsche Telekom, Square, Revolut, and the Ukrainian government.
These enterprise clients use ElevenLabs for customer support, conversational commerce, citizen engagement, internal training, and inbound sales. The company aims to double its annual recurring revenue in 2026.
Staniszewski said the funding will help the company expand beyond voice technology. The goal is to transform how users interact with technology overall.
The company plans to expand its offering to creators. This includes enabling businesses to build agents that can talk, type, and take action.
International Expansion Plans
ElevenLabs operates offices across multiple continents. The company has locations in Europe, Brazil, Mexico, India, South Korea, Japan, and the United States.
The startup will use the new funding to continue international expansion. It plans to grow locally embedded teams across London, New York, San Francisco, Warsaw, Dublin, Tokyo, Seoul, Singapore, Bengaluru, Sydney, São Paulo, Berlin, Paris, and Mexico City.
These teams will support enterprise adoption of its ElevenAgents and ElevenCreative platforms worldwide. The company also announced upgrades to its voice agents with faster response times and improved expressiveness.
The upgrades are powered by new turn-taking improvements and its Eleven v3 Conversational model. ElevenLabs recently launched a marketplace allowing brands to license voices of celebrities like Michael Caine and Liza Minnelli.
In August 2025, the company unveiled an AI music generator. In January, ElevenLabs released “The Eleven Album,” created with musicians to showcase its AI music production tools.
Staniszewski stated the company is building toward an IPO. AI startup funding reached record levels in 2025 as investors increased bets on the technology.
European AI startups raised $21.6 billion in 2025 according to Dealroom. U.S. AI startups raised $164.6 billion in 2025, driven largely by funding for OpenAI, Anthropic, and xAI.
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