Funding Round Overview

ElevenLabs, a company that creates voice‑AI technology, disclosed a $500 million financing round headed by Sequoia Capital. The transaction lifts the startup’s valuation to $11 billion, more than three times its valuation in the previous round. Sequoia partner Andrew Reed will join ElevenLabs’ board as part of the deal.

Investor Participation

Existing investors a16z, Iconiq, BroadLight, NFDG, Valor Capital, AMP Coalition and Smash Capital participated, with a16z and Iconiq substantially increasing their commitments. New capital came from Lightspeed Venture Partners, EvanticCapital and Bond, while additional investors are slated to be disclosed later.

Strategic Plans and Product Expansion

The company said the new funds will be allocated to research, product development and expansion into international markets such as India, Japan, Singapore, Brazil and Mexico. Co‑founder Mati Staniszewski indicated that ElevenLabs intends to move beyond voice‑only solutions, exploring video generation and AI agents that can talk, type and act. The firm previously announced a partnership with LTX to create audio‑to‑video content.

Growth Metrics and Market Position

ElevenLabs reported $330 million in annual recurring revenue at the close of the previous year, noting rapid growth that took the company from $200 million to $300 million ARR within five months. The company’s total funding now exceeds $781 million. The broader voice‑AI sector continues to attract significant investor interest, with peers such as Deepgram raising capital and major tech firms hiring talent from competing voice‑model companies.

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