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ElevenLabs Raises $500 Million to Expand Global Voice AI Presence

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Voice AI company ElevenLabs has successfully raised $500 million in a new funding round led by Sequoia Capital, a notable repeat investor. Andrew Reed, a partner at Sequoia, is set to join the company's board.

  • The valuation of ElevenLabs stands at $11 billion, a significant increase from its valuation in January 2025.
  • Existing investor a16z quadrupled its investment, while Iconiq tripled theirs. Other participants include BroadLight, NFDG, Valor Capital, AMP Coalition, and Smash Capital. New investors feature Lightspeed Venture Partners, Evantic Capital, and Bond.
  • ElevenLabs plans to use the funds for research, product development, and international expansion into markets such as India, Japan, Singapore, Brazil, and Mexico.
  • Co-founder Mati Staniszewski indicated potential for the company to expand beyond voice to include video with partnerships like the one announced with LTX for audio-to-video content.

The company reported a notable growth with $330 million Annual Recurring Revenue (ARR), achieving a jump of $100 million in just five months. ElevenLabs stands out in the competitive voice AI market, emphasized by the recent investment interest in the industry seen with Deepgram's round and Google’s recruitment from Hume AI.