ElevenLabs Raises $500M Series D, Valued at $11B
Analysis based on 11 articles · First reported Feb 04, 2026 · Last updated Feb 05, 2026
The successful Series D funding round for ElevenLabs, valuing it at $11 billion, signals strong investor confidence in the generative AI sector, particularly in AI audio. This event is likely to attract more investment into AI startups and intensify competition among firms developing conversational interfaces and audio models, potentially driving innovation and market growth.
ElevenLabs, an AI audio company, announced a successful Series D funding round, raising $500 million and tripling its valuation to $11 billion. The round was led by Sequoia Capital, with partner Andrew Reed joining the board. Existing investors Andreessen Horowitz and Iconiq Capital significantly increased their stakes, while new investors like Lightspeed Venture Partners, Evantic Capital, and BOND also participated. The company plans to use the fresh capital for extensive research and product development, including expanding beyond voice into video and agents, and for aggressive international expansion into 14 cities worldwide. ElevenLabs also announced major upgrades to its voice agents, enhancing response times and expressiveness. The company, co-founded by Mati Staniszewski and Piotr Dąbkowski, reported over $330 million in annual recurring revenue for 2025, driven by growing enterprise adoption from clients such as Deutsche Telekom, Square, Revolut, the Ukrainian government, Duolingo, Nvidia, and Time. ElevenLabs aims for a future public listing.
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