Voice AI startup ElevenLabs announced a $500 million funding round led by Sequoia Capital, pushing its valuation to $11 billion—more than three times its previous valuation in January 2025. Sequoia partner Andrew Reed will join ElevenLabs’ board.
Existing investors a16z and ICONIQ significantly increased their stakes, while BroadLight, NFDG, Valor Capital, AMP Coalition, and Smash Capital also participated. New investors include Lightspeed Venture Partners, Evantic Capital, and BOND. ElevenLabs has raised over $781 million to date and plans to use the new capital for research, product development, and international expansion into markets like India, Japan, Singapore, Brazil, and Mexico.
Co-founder Mati Staniszewski said the company aims to move beyond voice, incorporating video and agent functionality. ElevenLabs recently partnered with LTX to produce audio-to-video content and plans to expand its Creative offering, enabling businesses to build agents that can talk, type, and take action.
The company closed 2025 with $330 million in annual recurring revenue, growing from $200 million to $300 million in ARR in just five months. ElevenLabs’ raise comes amid heightened investor interest in voice AI, as competitors like Deepgram and Hume AI attract significant capital and talent.
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