A major Capital round has just been announced in the artificial intelligence sector. On February 4th, ElevenLabs – an AI startup specializing in text-to-speech synthesis and voice cloning – officially announced a successful $500 million Capital round, valuing the company at $11 billion .
This Capital round further solidifies ElevenLabs' position as one of the fastest-growing AI companies today, while also reflecting the growing investor interest in voice and conversational AI infrastructure.
According to an announcement from ElevenLabs, the latest Capital round is as follows:
- Led by Sequoia Capital
- There has been significant investment from Andreessen Horowitz (a16z) and ICONIQ Capital.
- Attracting new investors: Lightspeed Venture Partners, along with other funds such as BOND and Evantic Capital.
Notably, Andrew Reed, a representative from Sequoia, also joined the ElevenLabs board of directors after this Capital round. To date, ElevenLabs has raised a Capital of $781 million across five rounds, while its valuation has increased more than 110 times since the second Capital round in October 2023 – a growth rate rarely seen even in the AI industry.
Revenue growth has been explosive.
ElevenLabs stated that the company ended 2025 with over $330 million in ARR (annual recurring revenue), primarily driven by explosive demand from enterprise customers for its ElevenAgents product – a platform enabling large-scale deployment of voice agents and chat agents.
ElevenLabs' list of notable clients includes: Deutsche Telekom, Square, the Ukrainian government, and Revolut.
ElevenLabs' products are being used for:
- Customer service
- Conversational commerce
- Citizen interaction
- Internal training
- Inbound sales
According to a post on platform X, ElevenLabs stated that the majority of the new Capital will be used to "double down" on ElevenAgents, in order to help the business:
- Deploying highly reliable AI agents
- Easy system integration, testing, and monitoring.
- Serving large-scale customer operations
The company has also recently upgraded its agents with faster response times and more natural expressions, thanks to a new turn-taking system and Eleven v3 Conversational.
In addition to expanding its product range, ElevenLabs affirms that it will continue to invest heavily in R&D, with a focus on:
- Empathetic conversational models
- Dubbing
- Audio General Intelligence
ElevenLabs' goal is to bring these research breakthroughs into products deployed on a global scale, rather than keeping them confined to the laboratory.
