ElevenLabs Secures $500M, Reaches $11B Valuation in Voice AI Boom
ElevenLabs raises a massive $500 million round led by Sequoia Capital, pushing its valuation to $11 billion. The voice AI startup plans to use the funds to expand beyond audio into video and agent technologies.
ElevenLabs raises $500 million in a new funding round led by Sequoia Capital, reaching a massive $11 billion valuation. This new valuation is more than three times the company's worth from its previous funding round in January 2025. Sequoia partner Andrew Reed joins the startup's board, while existing investors like a16z and Iconiq significantly increase their stakes alongside new participants such as Lightspeed Venture Partners.
The voice AI company finishes the year with $330 million in annual recurring revenue, showing incredible momentum by adding $100 million in just five months. ElevenLabs plans to use the fresh capital for extensive research, product development, and international expansion into markets like India, Japan, Singapore, Brazil, and Mexico. The startup also hints that it will reveal additional strategic partner investors later in February.
Co-founder Mati Staniszewski indicates that the company intends to move beyond voice alone to transform how users interact with technology. ElevenLabs explores building advanced agents that talk, type, and take action, while also expanding into video generation following a recent partnership with LTX. This massive investment highlights the fierce competition in the voice AI sector, as rivals like Deepgram also secure major funding and tech giants like Google aggressively hire top industry talent.