ElevenLabs Lands $500 Mn at $11 Bn Valuation as Voice AI Boom Accelerates
The London-based company plans to build new models and expand across global markets.
ElevenLabs Inc., a fast-growing artificial intelligence startup focused on speech generation and transcription, has raised $500 million in late-stage funding, the company announced.
The Series D round was led by Sequoia Capital, with participation from Andreessen Horowitz, Iconiq, Lightspeed and others, valuing the firm at $11 billion, more than triple its $3.3 billion valuation in January 2025.
The jump reflects strong demand for its voice AI tools. Founded in 2022, ElevenLabs now generates over $330 million in annualized revenue from customers including Meta Platforms Inc. and Nvidia Corp., which is also an investor.
The London-based company plans to build new models and expand across global markets.
The company’s latest model, Eleven v3, launched last month, can generate synthetic speech in more than 70 languages and simulate non-verbal reactions, while models like Eleven v2.5 Turbo and Scribe v2 target real-time voice and transcription across more than 90 languages.
Developers access the tools via APIs and cloud platforms ElevenAgents and ElevenCreative, which support AI voice agents, marketing content and multimedia generation.
“We plan to expand our Creative offering — helping creators combine our best-in-class audio with video and agents and enabling businesses to build agents that can talk, type and take action,” said co-founder and Chief Executive Officer Mati Staniszewski.
The London-based company plans to build new models and expand across global markets.
