ElevenLabs Revenue, Valuation, Funding & Investors

ElevenLabs is valued at $22B as of September 2026, a 36.7x revenue multiple. ElevenLabs revenue was $600M, as disclosed with its latest round.

Last ElevenLabs valuation

$22B

Secondary · Sep 2026

Last ElevenLabs funding round

Series D

Amount undisclosed · May 2026

ElevenLabs revenue

$600M

Secondary · Sep 2026

Key investors in ElevenLabs

  • Andreessen Horowitz
  • Sequoia Capital
  • ICONIQ Capital
  • Smash Capital
  • Lightspeed Venture Partners
  • Wellington Management

ElevenLabs Overview

About ElevenLabs

ElevenLabs is a London and Warsaw-headquartered AI company providing voice synthesis, cloning, dubbing, and generation tools. Its platform supports text-to-speech in over 29 languages, developer APIs for voice agents, and enterprise solutions for content localization. Features include instant voice cloning from short audio samples, emotional tone preservation, and audio editing capabilities used by creators and businesses worldwide.


Founded

2022

HQ

PolandWarsaw

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Revenue

$600M (Sep 2026)

Valuation

$22B (Sep 2026)

ElevenLabs Valuation

ElevenLabs is currently valued at $22B, based on its secondary sale in September 2026. Read the announcement ↗

The $300M round was led by T. Rowe Price and Wellington Management, with participation from Jasper Farms, ICONIQ Capital, EQT, GIC, MSD Partners and 5 other investors.

ElevenLabs' valuation has grown 222x from $99M at its Series A in June 2023 to $22B in September 2026, across 7 priced rounds.

ElevenLabs valuation by funding round

Revenue multiple
ElevenLabs valuation by funding round
DateStageValuationRevenue Multiple
Sep 2026Secondary$22B36.7x
May 2026Series D$11B22.0x
Feb 2026Series D$11B33.3x
Sep 2025Secondary$6.6B33.0x
Jan 2025Series C$3.3B36.7x
Jan 2024Series B$1.1B-
Jun 2023Series A$99M-

ElevenLabs Revenue

ElevenLabs' latest recorded revenue is $600M, as of its secondary sale in September 2026. At a $22B valuation, that implies a 36.7x revenue multiple.

Revenue grew from $90M in January 2025 to $600M in September 2026, while the revenue multiple moved from 36.7x to 36.7x.

ElevenLabs revenue by funding round

ElevenLabs revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Sep 2026$600M$22B36.7xSecondary
May 2026$500M$11B22.0xSeries D
Feb 2026$330M$11B33.3xSeries D
Sep 2025$200M$6.6B33.0xSecondary
Jan 2025$90M$3.3B36.7xSeries C

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

ElevenLabs Funding History

ElevenLabs has raised a total of $781M across 6 funding rounds, plus 3 secondary share sales.

ElevenLabs' first fundraising round was a $2M pre-seed round in January 2023. The most recent completed round was a Series D in May 2026.

ElevenLabs funding rounds

ElevenLabs funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2026SecondaryT. Rowe Price (lead); Wellington Management (lead); Jasper Farms; ICONIQ Capital; EQT; GIC; MSD Partners; Goldman Sachs; Andreessen Horowitz; Lightspeed Venture Partners; Sapphire Ventures; Alkeon Capital$300M$22BElevenLabs completed a $300 million secondary tender offer in September 2026 at a $22 billion valuation, with Wellington and T. Rowe Price leading the transaction. Existing investors Andreessen Horowitz, Lightspeed, ICONIQ, D. E. Shaw, Evantic, Disruptive, and Alkeon participated, while first-time investors included EQT, Goldman Sachs, GIC, Ontario Teachers' Pension Plan, Sapphire Ventures, and BDT & MSD Partners. The deal provided liquidity to employees and existing shareholders rather than primary growth capital, and it marked ElevenLabs' second secondary transaction. The company said the valuation doubled from the $11 billion level reached in its February 2026 financing, reflecting surging demand for its voice AI platform and the continued support of long-term institutional backers. ElevenLabs is a voice AI company focused on speech synthesis, AI audio research, and product development. It has rapidly scaled into one of the most highly valued private AI companies, with the September 2026 tender offer broadening its investor base and reinforcing support from large asset managers and strategic growth investors.
May 2026Series DJamie Foxx; NVIDIA; Wellington Management; KPN; Salesforce; D. E. Shaw & Co.; BlackRock; Deutsche Telekom; Santander; Eva Longoria; Schroders-$11BElevenLabs closed its Series D funding round on May 5, 2026, raising $500 million at an $11 billion valuation. The round, first announced in February 2026, reached over $550 million in total commitments across three tranches. The final close included institutional investors BlackRock, Wellington Management, D.E. Shaw, and Schroders; enterprise investors NVIDIA (via NVentures), Salesforce Ventures, Santander, KPN, and Deutsche Telekom; and individual investors Jamie Foxx, Eva Longoria, and Hwang Dong-hyuk. In March 2026, Robinhood's closed-end fund RVI also purchased approximately $20 million of Series D preferred stock. The funding reflects strong momentum in ElevenLabs' business. The company announced it crossed $500 million in annual recurring revenue as of early 2026, up from $350 million at the end of 2025—a 43% increase year-over-year. In Q1 2026 alone, the company added $100 million in net new ARR, according to co-founder and CEO Mati Staniszewski. Additionally, ElevenLabs closed a $100 million secondary tender offer in May 2026, marking the second such transaction in roughly six months following a previous tender in September 2025. ElevenLabs operates as a voice AI platform providing text-to-speech and audio generation capabilities. The company also created ElevenMusic, a music generation product positioned as a competitor to Suno and Udio. The company serves both individual creators and enterprise customers across multiple verticals.
May 2026Secondary-$100M-ElevenLabs conducted the third close of its $500 million Series D funding round in May 2026, welcoming new investors including BlackRock, Wellington, D.E. Shaw, Schroders, Nvidia via NVentures, Salesforce Ventures, Santander, KPN, Deutsche Telekom, Jamie Foxx, Eva Longoria, and Hwang Dong-hyuk, among over 30 high-profile individuals and entities. The company also closed a $100 million tender offer, the second in six months, and plans to offer investment opportunities to retail investors via Robinhood Ventures. The funding supports ElevenLabs' accelerating growth in voice AI, driven by conversational AI expansion amid surging demand. ARR grew from $350 million at the end of 2025 to over $500 million in the first four months of 2026, including $100 million in net new ARR added in Q1 2026. ElevenLabs operates as a voice AI company providing advanced speech synthesis and conversational technologies, with rapid scaling evidenced by ARR surpassing $500 million in early 2026.
Feb 2026Series DSequoia Capital (lead); Smash Capital; BroadLight Capital; ICONIQ Capital; Evantic Capital; NFDG Ventures; AMP Coalition; Andreessen Horowitz; Lightspeed Venture Partners; Valor Equity Partners; Counterpart Advisors; Bond$500M$11BSequoia Capital led a $500 million Series D in ElevenLabs in February 2026, valuing the company at $11 billion, more than three times its valuation a year earlier. Andreessen Horowitz and ICONIQ both increased their positions with significant super pro-rata participation, and Andrew Reed of Sequoia joined the board. New investors Lightspeed Venture Partners, Evantic Capital and BOND joined the round, while existing investors BroadLight, NFDG, Valor Capital, AMP Coalition and Smash Capital continued their support. The round brought total funding to $781 million across five rounds since the company was founded in 2022. ElevenLabs said the proceeds would go toward ElevenAgents, its enterprise platform for voice and conversational AI, and toward research in emotional conversational models, dubbing and audio general intelligence. The company closed 2025 with over $330 million in annual recurring revenue. ElevenLabs began with a human-like text-to-speech model and now offers speech-to-text, sound effects, dubbing, music and conversation models. Its products are ElevenAgents for enterprise voice and chat agents, ElevenCreative for generating and localizing audio in more than seventy languages, and ElevenAPI for developers. Customers include Deutsche Telekom, Square, Revolut, Meta, Epic Games and Salesforce. It was founded by Mati Staniszewski and Piotr Dabkowski and operates offices in London, New York, San Francisco, Warsaw and other cities.
Sep 2025SecondarySequoia Capital (lead); ICONIQ Capital (lead)$100M$6.6BElevenLabs announced an employee tender offer in September 2025 in which existing investors bought $100 million of shares from current and former staff at a valuation of $6.6 billion. Sequoia Capital and ICONIQ led the purchase, with participation from many other existing shareholders. The company said the tender was intended to let the people who had built the business realise some of its value while it remained private, and that it had surpassed $200 million in annual recurring revenue with an expectation of topping $300 million by the end of the year. The valuation was double the $3.3 billion mark set by the Series C in January 2025. ElevenLabs was founded in 2022 by Piotr Dabkowski and Mati Staniszewski and builds artificial intelligence models for speech synthesis, voice cloning, dubbing and conversational voice agents, sold to developers, publishers, studios and enterprises. A second tender of $100 million followed in May 2026.
Jan 2025Series CAndreessen Horowitz (lead); ICONIQ Capital (lead); Salesforce Ventures; Smash Capital; New Enterprise Associates; World Innovation Lab; NFDG Ventures; Sequoia Capital; Endeavor Catalyst; Deutsche Telekom; Lunate$180M$3.3BElevenLabs, founded in 2022 by Mati Staniszewski and Piotr Dąbkowski (Google and Palantir alumni), develops AI technology for synthetic voice generation, converting text to speech with emotion, intonation, and high accuracy voice replication. The platform supports applications like narrating articles for Time, translating videos for Nvidia, dubbing for Synthesia, and generating sound effects, with tools for speech generation, voice design, AI-powered dubbing in 32 languages, and conversational AI. The company operates remotely with hubs in London (European HQ), New York, and Warsaw, growing from 30 to over 200 employees. On January 24-30, 2025, ElevenLabs closed a $180 million Series C round co-led by Andreessen Horowitz (a16z) and ICONIQ Growth, with participation from NEA, World Innovation Lab, Valor, Endeavor Catalyst Fund, Lunate, and existing investors like Sequoia Capital, Salesforce Ventures, Smash Capital, SV Angel, NFDG, and BroadLight Capital. Strategic partners include Deutsche Telekom, LG Technology Ventures, HubSpot Ventures, NTT DOCOMO Ventures, and RingCentral Ventures. This brought total funding to $281 million across four rounds, tripling valuation from over $1 billion post-Series B ($80M in Jan 2024) to a post-money $3.3 billion. Proceeds will accelerate research into more expressive and controllable voice AI, omni-models combining text and audio, developer tools, global business scaling, mobile offerings, multilingual support, and AI safety. Traction includes developers building over 250,000 conversational AI agents in two months, localizing 1 million hours of audio, converting 1 million hours of text via ElevenReader, and generating 10 million sound effects—equivalent to 1,000 years of AI audio. Customers span publishers (Washington Post, HarperCollins), tech platforms (Synthesia), and gaming. ElevenLabs competes with Big Tech like OpenAI amid rising demand for text-to-voice, positioning as the leading voice AI research company. It follows unicorn status in 2024 and addresses past controversies like AI-generated political calls, emphasizing ethical development.
Jan 2024Series BAndreessen Horowitz (lead); Daniel Gross (lead); Nat Friedman (lead); Credo Ventures; Smash Capital; BroadLight Capital; SV Angel; Sequoia Capital$80M$1.1BElevenLabs, a generative AI startup founded in 2022 by ex-Google and Palantir engineers Piotr Dabkowski and Mati Staniszewski, develops tools for voice cloning, synthetic voice creation, editing, dubbing, and multilingual text-to-speech that sounds highly natural. The company launched in beta about a year before the funding announcement and quickly gained traction, with its technology used by 41% of Fortune 500 employees and partnerships including D-ID, Storytel, and Paradox Interactive. It positions itself as a leader in voice AI research and ethical deployment, addressing deepfake concerns with detection tools and safety measures. On January 22, 2024, ElevenLabs closed an $80 million Series B round co-led by Andreessen Horowitz, Nat Friedman (former GitHub CEO), and Daniel Gross, with participation from Sequoia Capital, Smash Capital, SV Angel, BroadLight Capital, and Credo Ventures. This brought total funding to $101 million, up from a $19 million Series A in June 2023 at ~$100 million valuation and an initial $2 million raise earlier that year. Sources report the post-money valuation at $1.1 billion (Fortune, citing sources and Reuters), over $1 billion (TechCrunch), or unicorn status at $1B (TechFundingNews), marking unicorn achievement and a tenfold increase from prior rounds amid surging AI investor interest. Proceeds fund product development, infrastructure expansion, AI research, team growth from 40 to 100 employees, and enhanced safety for responsible AI use. ElevenLabs aims to dominate voice AI, targeting verticals like content accessibility, breaking language barriers, and competing with startups like Papercup, Deepdub, Respeecher, Voice.ai, and Big Tech players including Amazon, Microsoft, and Google in the fast-growing synthetic voice market. A later Series C in 2025 valued it at $3.3 billion with $180 million raised, but details here focus on the specified Series B.
Jun 2023Series AAndreessen Horowitz (lead); Daniel Gross (lead); Nat Friedman (lead)$19M$99MElevenLabs raised a US$19 million Series A in June 2023, led jointly by Nat Friedman, Daniel Gross and Andreessen Horowitz and announced alongside a set of new generative voice products. Existing backers Credo Ventures and Concept Ventures returned, and SV Angel, Creator Ventures, Embark Studios, Storytel and TheSoul Publishing joined, together with angels including Mike Krieger, Brendan Iribe, Mustafa Suleyman, Guillermo Rauch and Tim O'Reilly. The company did not disclose a valuation; press reports at the time put it at roughly US$100 million. The products launched with the round included a speech synthesis platform supporting multiple languages, a voice library and tooling aimed at audiobook and dubbing workflows. ElevenLabs was founded in 2022 by Piotr Dabkowski and Mati Staniszewski and builds artificial intelligence models for text-to-speech, voice cloning, dubbing and conversational voice agents. It is headquartered in London with a large presence in New York and Warsaw.
Jan 2023Pre-seedCredo Ventures (lead); Concept Ventures; Alex Macdonald$2M-ElevenLabs announced a US$2 million pre-seed round in January 2023 alongside the public beta of its artificial intelligence speech platform. Credo Ventures led the round and Concept Ventures participated, together with a group of angel investors drawn from the machine learning and technology industries. No valuation was disclosed. The company was founded in 2022 by Piotr Dabkowski, a former Google machine learning engineer, and Mati Staniszewski, a former Palantir deployment strategist, who set out to fix the flat, poorly dubbed audio they had grown up with. Its first products were a text-to-speech engine capable of conveying emotion and intonation from context and a voice cloning tool that reproduces a speaker from a short sample. The proceeds were directed at research into long-form speech synthesis and at building out the platform for publishers and audiobook producers. ElevenLabs operates from London and New York with engineering staff in Warsaw and San Francisco.

Who has invested in ElevenLabs?

42 investors have backed ElevenLabs across its funding rounds, including Andreessen Horowitz, Sequoia Capital, ICONIQ Capital, Smash Capital, Lightspeed Venture Partners and Wellington Management.

Lead investors include T. Rowe Price, Wellington Management, Sequoia Capital, ICONIQ Capital, Andreessen Horowitz and 3 other investors.


ElevenLabs Investors

Investors in ElevenLabs by funding rounds participated
InvestorHQRoundsRoleFirst check
Andreessen HorowitzUnited StatesSan Francisco, CA5LeadJun 2023
ICONIQ CapitalUnited StatesSan Francisco, CA4LeadJan 2025
Sequoia CapitalUnited StatesSan Francisco, CA4LeadJan 2024
Smash CapitalUnited StatesLos Angeles, CA3ParticipantJan 2024
Credo VenturesCzech RepublicPrague2LeadJan 2023
BroadLight CapitalUnited StatesLos Angeles, CA2ParticipantJan 2024
Daniel GrossUnited StatesSan Francisco, CA2LeadJun 2023
Wellington ManagementUnited StatesBoston, MA2LeadMay 2026
NFDG VenturesUnited StatesSan Francisco, CA2ParticipantJan 2025
Lightspeed Venture PartnersUnited StatesSan Francisco, CA2ParticipantFeb 2026
Nat FriedmanUnited StatesUnited States2LeadJun 2023
Deutsche TelekomGermanyBonn2ParticipantJan 2025
Jamie Foxx--1ParticipantMay 2026

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Investments by ElevenLabs

ElevenLabs has invested in 3 companies to date.

Latest investment by ElevenLabs was on April 2nd 2026. ElevenLabs invested in Insight Health in their $11M Series A round.


Latest Investments by ElevenLabs

Insight Health
Murphy AI
Wondercraft Lab
Description
Insight Health is a healthcare technology company offering an AI platform that automates clinical workflows through specialized agents. Its tools manage patient pre-visit intake, follow-ups, referral processing, phone triage, appointment scheduling, chart preparation, and documentation. Providers in various medical settings use the system to cut administrative burdens and prioritize patient interactions. The platform integrates across clinical environments to streamline operations.
Murphy AI is an AI platform deploying autonomous voice agents for debt collection across 100 languages and channels like phone, SMS, and WhatsApp. San Francisco-based, it replaces call centers for lenders by handling negotiations, payment plans, and compliance with regulations like TCPA.
Wondercraft Lab is an AI-driven audio production platform that converts text inputs like blog posts, articles, essays, and ad copy into podcasts, audiobooks, and marketing audio. The service features ultra-realistic AI voices, custom script assistants, professional music libraries, and video generation capabilities through specialized templates. Users produce studio-quality content without recording studios, microphones, mixing gear, or editing software, completing projects in minutes at reduced costs. Based in San Francisco, the platform serves creators worldwide, enabling seamless integration of audio into creative workflows for podcasts, social media, and campaigns.
HQ CountryUnited StatesSpainUnited Kingdom
HQ City
Austin, TX
Barcelona
London
Deal Date2 Apr 202614 Jul 202529 Jan 2024
RoundSeries ASeedSeed
Raised$11M$13M$3M
InvestorsPear VC; Standard Capital; Kindred Ventures; Eudemian Ventures; 43Enzo Ventures; Seedcamp; Baobab Ventures; Lakestar; NorthzoneSteven Bartlett; Y Combinator; Will Ventures
Valuationundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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ElevenLabs Competitors

ElevenLabs competitors include listed companies like Presight AI and Snowflake, and private ones like Lovable, Mistral AI, Kling AI and Sierra.

Public and private companies comparable to ElevenLabs
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
LovableSwedenStockholmPrivate$500M-$13B26.6x
Mistral AIFranceParisPrivate$400M-$24B61.0x
Kling AIChinaBeijingPrivate$500M-$18B36.0x
SierraUnited StatesSan Francisco, CAPrivate$100M-$16B-
Presight AIUAEUAEPublicly listed$825M$214M$5.3B4.9x
SnowflakeUnited StatesUnited StatesPublicly listed$4.7B($1.3B)$108B18.3x

ElevenLabs Public Comps

ElevenLabs is still privately-owned, but its public comps include Unity, Z.ai, Tempus AI, iFlytek, IonQ, Range Intelligent, MiniMax Group, UiPath, SenseTime Group and Nebius Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Unity$1.8B($18M)9.1x7.7x(924.9x)25.9x
Z.ai$109M($663M)273.4x36.3x(44.9x)(44.9x)
Tempus AI$1.3B($131M)10.8x8.9x(105.2x)261.7x
iFlytek$4.1B$469M3.5x3.2x30.2x31.0x
IonQ$130M($531M)83.4x27.5x(20.4x)(26.4x)
Range Intelligent$852M$803M18.7x13.3x19.9x17.3x
MiniMax Group$79M($1.9B)77.1x-(3.2x)-
UiPath$1.6B$70M3.7x3.4x85.5x13.3x

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Common questions about ElevenLabs

When was ElevenLabs founded?ElevenLabs was founded in 2022.
Where is ElevenLabs headquartered?ElevenLabs is headquartered in Warsaw, Poland.
Is ElevenLabs publicly listed?No, ElevenLabs is a private, VC-backed company.
What is ElevenLabs' valuation?ElevenLabs was last valued at $22B in its secondary sale in September 2026.
How much funding has ElevenLabs raised?ElevenLabs has raised $781M across 6 funding rounds.
What was ElevenLabs' last funding round?ElevenLabs' last funding round was a Series D in May 2026.
Who are ElevenLabs' investors?ElevenLabs' investors include Andreessen Horowitz, ICONIQ Capital, Sequoia Capital, Smash Capital, Credo Ventures, BroadLight Capital, Daniel Gross, Wellington Management, NFDG Ventures, Lightspeed Venture Partners and 32 others.
What is ElevenLabs' revenue?ElevenLabs' latest recorded revenue is $600M (September 2026).
What is ElevenLabs' revenue multiple?ElevenLabs' latest valuation implies a 36.7x revenue multiple ($22B valuation on $600M of revenue).
Which companies are comparable to ElevenLabs?Companies comparable to ElevenLabs include Lovable, Mistral AI, Kling AI, Sierra, Presight AI and Snowflake.
How many companies has ElevenLabs invested in?ElevenLabs has invested in 3 companies, including Insight Health, Murphy AI and Wondercraft Lab.
What was ElevenLabs' last investment?In April 2026, ElevenLabs invested in Insight Health's $11M Series A alongside Pear VC, Standard Capital, Kindred Ventures and 2 other investors.

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