ElevenLabs raises $500M from Sequioia at a $11 billion valuation

ElevenLabs raises $500M from Sequioia at a $11 billion valuation

Voice AI company ElevenLabs said today it raised $500 million in a new funding round led by
Sequoia Capital, which was an investor in the startup’s last secondary round via a tender. Sequoia associate Andrew Reed is becoming a member of the company’s board.

The startup is now valued at $11 billion, more than thrice its valuation in its last round in January 2025. Earlier in the 12 months, the Financial Times reported that the startup was trying to elevate at that valuation.

The company said that current investor a16z quadrupled its funding quantity, and ICONIQ, which led the last round, tripled it. Some prior traders, like BroadLight, NFDG, Valor Capital, AMP Coalition, and Smash Capital, also joined the round. New traders for the funding included Lightspeed Venture Partners, Evantic
Capital, BOND.

ElevenLabs said that it is going to disclose some traders later in February, which is likely to be strategic companions. The company has raised over $781 million up to now. It said that it is going to use the funding for research and product development, together with expansion in worldwide markets like India, Japan, Singapore, Brazil, and Mexico.

The company’s co-founder, Mati Staniszewski, indicated that ElevenLabs may work on brokers past voice and incorporate video. In January, the company announced a partnership with LTX to provide audio-to-video content.

“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,” he said in a assertion.

The company has seen good development momentum because it closed the 12 months at $330 million ARR. In an interview with Bloomberg earlier this 12 months, Staniszewski said that it took ElevenLabs 5 months to achieve from $200 million to $300 million in ARR.

Voice AI mannequin suppliers are a pretty goal for traders and big tech corporations. In January, rival Deepgram raised $130 million from AVP at a $1.3 billion valuation. Meanwhile, Google employed top expertise from voice mannequin company Hume AI, including CEO Alan Cowen.

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