ElevenLabs Raises $500 Million Series D at $11B Valuation

ElevenLabs, an AI research and product company transforming how we interact with technology, led by Mati Staniszewski and Piotr Dabkowski, has secured $500 million in a Series D funding round led by Sequoia Capital, with Andrew Reed joining the board. Andreessen Horowitz quadrupled down while ICONIQ tripled down, both with significant super pro-rata participation. New investors Lightspeed Venture Partners, Evantic Capital, and BOND are also joining the round. Existing investors - BroadLight, NFDG, Valor Capital, AMP Coalition, and Smash Capital are also continuing their support, along with additional investor participation expected to be disclosed later in February. This latest funding values ElevenLabs at $11 billion, more than tripling its valuation from one year prior, and brings total funding to $781 million across five rounds since its founding in 2022.

Founded in 2022, ElevenLabs started with human-like AI text-to-speech and has since expanded into speech-to-text, sound effects, dubbing, music, and conversational AI. Its enterprise platforms, ElevenAgents, ElevenCreative, and ElevenAPI, combine advanced models with integrations and production-grade infrastructure to power large-scale voice and audio experiences for businesses, creators, and developers worldwide.

ElevenLabs began by creating human-like voice models and has since expanded into foundational audio models spanning text-to-speech, transcription, music, dubbing, and conversation. Backed by a world-leading research team, these models are optimized for production use, setting new benchmarks for audio-driven product experiences.

ElevenLabs emphasizes the importance of uniting research and product, translating advanced models into real-world experiences. The funding supports expansion beyond voice into creative tools that combine audio, video, and agents, enabling businesses to build systems that communicate and act across modalities, while continuing to scale toward an eventual IPO in an early and rapidly evolving market.

Andrew Reed of Sequoia praised ElevenLabs’ founders for building one of the most impactful companies in the global AI ecosystem, highlighting its leadership in research, creative tools, and enterprise-scale voice agents that are reshaping how people and organizations interact with technology.

ElevenLabs will use the funding to further expand research and product development while accelerating international growth across major global hubs, building locally embedded go-to-market teams to support enterprise adoption of ElevenAgents and ElevenCreative worldwide.

For decades, people have adapted to machines through buttons and menus, but the next phase of computing is shifting that dynamic, with technology adapting to natural human communication.