Eleven Labs
ElevenLabs, founded in 2022 by former Google machine learning engineer Piotr Krzysztof Kozak and former Palantir deployment strategist Mati Staniszewski, has become the dominant AI voice platform in the enterprise market.
Profile
ElevenLabs provides AI-powered voice generation, cloning, dubbing, and conversational agent platforms for enterprises, creators, and developers.
ElevenLabs, founded in 2022 by former Google machine learning engineer Piotr Krzysztof Kozak and former Palantir deployment strategist Mati Staniszewski, has become the dominant AI voice platform in the enterprise market. Headquartered in New York, the company closed 2025 with over $330 million in annual recurring revenue (ARR) and crossed $500 million ARR by April 2026, according to Sacra estimates. Its Series D round in February 2026 raised $500 million led by Sequoia Capital, with Andrew Reed joining the board, valuing the company at $11 billion—more than triple its $3.3 billion valuation from January 2025.
Total disclosed funding now stands at $781 million across five rounds, with additional secondary and follow-on rounds in early 2026 bringing total capital raised to over $832 million, per CB Insights. The company operates three platforms: ElevenAgents for deploying conversational voice agents in customer support and sales; ElevenCreative for generating and localizing speech, music, and sound effects; and ElevenAPI for developers building voice-enabled products. Enterprise customers include Deutsche Telekom, Square, Revolut, the Ukrainian Government, Klarna, and The Walt Disney Studios.
ElevenLabs has expanded internationally with go-to-market teams in London, New York, San Francisco, Warsaw, Dublin, Tokyo, Seoul, Singapore, Bengaluru, Sydney, São Paulo, Berlin, Paris, and Mexico City. The company is now investing heavily in ElevenAgents as its primary growth engine, while continuing research into emotional conversational models, dubbing, and audio general intelligence.
Who buys this
- Large enterprises deploying conversational AI agents for customer support, sales, and internal workflows
- Media and publishing companies creating and localizing audio content (audiobooks, podcasts, advertisements)
- Game studios and entertainment companies integrating voice into interactive experiences
- Developers building voice-enabled products via API for applications reaching over one billion users
Publicly disclosed clients
- Deutsche Telekom
- Square
- Revolut
- Ukrainian Government
- Klarna
- The Walt Disney Studios
- Meta
Strengths and what to watch
Strengths
- Rapid revenue growth: ARR grew from $100 million in 2024 to $330 million in 2025, then to $500 million by April 2026, with 41% of Fortune 500 companies as customers.
- Deep enterprise adoption with measurable outcomes: Revolut reduced time-to-resolution by 8x across 30+ languages; Klarna reported up to 10x faster resolutions for 35 million U.S. customers.
- Strong investor backing and high valuation: $11 billion valuation with Sequoia, a16z, and ICONIQ doubling down, providing substantial capital for R&D and global expansion.
Watch for
- Concentration risk in enterprise voice agents: rapid growth depends on a few large deployments (Revolut, Klarna, Deutsche Telekom); churn or slowdown in any could impact ARR.
- Regulatory and ethical scrutiny: AI voice cloning and deepfake concerns may attract regulation, especially in elections, fraud, and consent, potentially limiting use cases.
- Competitive pressure from tech giants: Google, Amazon, Microsoft, and OpenAI are investing in similar voice AI capabilities, which could commoditize the market or erode ElevenLabs' differentiation.
Recent moves
Key Information
- Industry
- Speech
- Founded
- 2022
- Headquarters
- New York
Frequently Asked Questions
What is ElevenLabs and what does it do?
ElevenLabs is an AI voice platform founded in 2022 that provides voice generation, cloning, dubbing, and conversational agents. It serves enterprises, creators, and developers through three platforms: ElevenAgents, ElevenCreative, and ElevenAPI.
How much funding has ElevenLabs raised and what is its valuation?
ElevenLabs raised $500 million in a Series D round in February 2026 led by Sequoia Capital, valuing the company at $11 billion. Total disclosed funding is $781 million across five rounds, with additional rounds bringing total capital to over $832 million.
What is ElevenLabs annual recurring revenue in 2025 and 2026?
ElevenLabs closed 2025 with over $330 million in annual recurring revenue. By April 2026, ARR crossed $500 million, according to Sacra estimates, reflecting rapid growth from $100 million ARR in 2024.
Which companies use ElevenLabs voice AI platform?
Enterprise customers include Deutsche Telekom, Square, Revolut, the Ukrainian Government, Klarna, and The Walt Disney Studios. Meta is also a notable client. 41% of Fortune 500 companies are customers.
What are ElevenAgents and how do enterprises use them?
ElevenAgents is a platform for deploying conversational voice agents in customer support and sales. Enterprises like Revolut reduced time-to-resolution by 8x across 30+ languages, while Klarna reported up to 10x faster resolutions for 35 million U.S. customers.
What risks does ElevenLabs face from competitors and regulation?
ElevenLabs faces competition from Google, Amazon, Microsoft, and OpenAI investing in similar voice AI. Regulatory scrutiny around AI voice cloning and deepfakes could limit use cases. Concentration risk also exists from dependence on a few large enterprise deployments.
Sources
- elevenlabs.io — Series D announcement: $500M raised, $11B valuation, $330M ARR in 2025, enterprise customers (Deutsche Telekom, Square, Ukrainian Government, Revolut), international expansion cities.
- sacra.com — Sacra estimates $500M ARR by April 2026, $350M ARR end of 2025, growth rate 175% YoY, customer metrics (41% Fortune 500), Revolut and Klarna deployment details.
- www.cbinsights.com — Total funding $832.35M, Series D-III ($30.01M) and secondary market ($100M) in May 2026, investor list including BlackRock, Salesforce Ventures, Nvidia.
- techcrunch.com — TechCrunch report on Series D: $500M led by Sequoia, Andrew Reed joining board, valuation $11B, 3x increase from January 2025.