ElevenLabs Secures $500M Series Funding at $11B Valuation, Led by Sequoia Capital

Voice AI platform provider ElevenLabs announced the successful completion of a $500 million funding round led by Sequoia Capital, elevating the company's valuation to $11 billion. This represents more than a threefold increase from its previous valuation established in January 2025.

Sequoia Capital, which previously participated in the startup's secondary tender offering, is deepening its commitment to the company. As part of this investment, Sequoia partner Andrew Reed will join ElevenLabs' board of directors.

The funding round saw significant participation from both existing and new investors:

Existing investors expanding their positions:
• a16z increased its investment by 4x
• Iconiq, which led the previous round, tripled its stake
• BroadLight, NFDG, Valor Capital, AMP Coalition, and Smash Capital participated

New strategic investors:
• Lightspeed Venture Partners
• EvanticCapital
• Bond

The company indicated that additional investors, potentially including strategic partners, will be disclosed later in February. To date, ElevenLabs has raised over $781 million in total funding.

Strategic Deployment and Product Roadmap

The capital will be allocated toward research and development initiatives, as well as international market expansion targeting key regions including India, Japan, Singapore, Brazil, and Mexico.

Co-founder Mati Staniszewski outlined the company's vision to extend beyond voice AI capabilities into multimodal experiences incorporating video content. In January, ElevenLabs announced a strategic partnership with LTX to develop audio-to-video generation technology.

"The intersection of models and products is critical – and our team has proven, time and again, how to translate research into real-world experiences. This funding helps us go beyond voice alone to transform how we interact with technology altogether. We plan to expand our Creative offering – helping creators combine our best-in-class audio with video and Agents – enabling businesses to build agents that can talk, type, and take action," Staniszewski stated.

Financial Performance and Market Position

ElevenLabs demonstrated strong revenue growth, closing the fiscal year with $330 million in Annual Recurring Revenue (ARR). According to Staniszewski's earlier interview with Bloomberg, the company achieved the milestone of scaling from $200 million to $300 million in ARR within just five months.

The voice AI sector continues to attract significant investor attention and strategic interest from major technology companies. Recent market activity includes competitor Deepgram raising $130 million from AVP at a $1.3 billion valuation in January, while Google acquired top talent from voice AI startup Hume AI, including CEO Alan Cowen.

Sources:
ElevenLabs Official Blog - Employee Tender Announcement
Financial Times - ElevenLabs Fundraising Report
LTX Studio - Audio-to-Video Partnership Announcement
Bloomberg Interview with Mati Staniszewski