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

Voice AI institution ElevenLabs said contiguous it raised $500 cardinal successful a caller backing circular led by
Sequoia Capital, which was an capitalist successful the startup’s past secondary circular done a tender. Sequoia spouse Andrew Reed is joining the company’s board.

The startup is present valued astatine $11 billion, much than 3 times its valuation successful its past circular successful January 2025. Earlier successful the year, the Financial Times reported that the startup was looking to rise astatine that valuation.

The institution said that existing capitalist a16z quadrupled its concern amount, and ICONIQ, which led the past round, tripled it. Some anterior investors, similar BroadLight, NFDG, Valor Capital, AMP Coalition, and Smash Capital, besides joined the round. New investors for the backing included Lightspeed Venture Partners, Evantic
Capital, BOND.

ElevenLabs said that it volition disclose immoderate investors aboriginal successful February, which mightiness beryllium strategical partners. The institution has raised implicit $781 cardinal to date. It said that it volition usage the backing for probe and merchandise development, on with enlargement successful planetary markets similar India, Japan, Singapore, Brazil, and Mexico.

The company’s co-founder, Mati Staniszewski, indicated that ElevenLabs mightiness enactment connected agents beyond dependable and incorporated video. In January, the institution announced a concern with LTX to nutrient audio-to-video content.

“The intersection of models and products is captious – and our squad has proven, clip and again, however to construe probe into real-world experiences. This backing helps america spell beyond dependable unsocial to alteration however we interact with exertion altogether. We program to grow our Creative offering – helping creators harvester our best-in-class audio with video and Agents – enabling businesses to physique agents that tin talk, type, and instrumentality action,” helium said successful a statement.

The institution has seen bully maturation momentum arsenic it closed the twelvemonth astatine $330 cardinal ARR. In an interrogation with Bloomberg earlier this year, Staniszewski said that it took ElevenLabs 5 months to scope from $200 cardinal to $300 cardinal successful ARR.

Voice AI exemplary providers are an charismatic people for investors and large tech companies. In January, rival Deepgram raised $130 cardinal from AVP astatine a $1.3 cardinal valuation. Meanwhile, Google hired top endowment from dependable exemplary institution Hume AI, including CEO Alan Cowen.