ElevenLabs Hits $11B Valuation as New Capital Fuels Global AI Push

New updates have been reported about ElevenLabs.

ElevenLabs raised $500 million in fresh capital led by Sequoia Capital, vaulting the voice-AI company’s valuation to $11 billion—more than triple its prior mark—and adding Sequoia partner Andrew Reed to its board. Existing backers a16z and Iconiq dramatically upped their stakes, joined by returning investors BroadLight, NFDG, Valor Capital, AMP Coalition, and Smash Capital, while newcomers Lightspeed, EvanticCapital, and Bond entered the syndicate; the company plans to disclose additional, potentially strategic investors in February, bringing its total funding to $781 million. Proceeds will accelerate R&D and international expansion into India, Japan, Singapore, Brazil, and Mexico as ElevenLabs seeks to extend beyond voice into agents capable of speech, text, and action, building on January’s audio-to-video collaboration with LTX. Co-founder Mati Staniszewski said the capital will help fuse model research with commercial products to redefine human-technology interaction, particularly through the Creative and Agents offerings aimed at multimedia creators and enterprise workflows. Revenue traction remains strong, with annual recurring revenue reaching $330 million after growing from $200 million in just five months, positioning the company competitively amid heightened investor interest in voice-model providers; for context, rival Deepgram recently raised $130 million at a $1.3 billion valuation, while Google has poached talent from Hume AI. The new war chest and board expansion equip ElevenLabs to consolidate its lead in synthetic media, respond to global demand, and broaden its multimodal agent roadmap, key considerations for executives tracking the private AI landscape.