ElevenLabs Rockets to $11 Billion Valuation After $500 Million Series D, Eyes IPO

In a jaw-dropping leap that has sent shockwaves through the AI and tech worlds, ElevenLabs—the voice-cloning and AI-audio powerhouse—has secured a staggering $500 million in Series D funding, catapulting its valuation to an eye-watering $11 billion. This monumental milestone marks more than a tripling of the company’s valuation since its $3.3 billion Series C round just five months ago, underscoring the explosive growth and investor confidence in its revolutionary technology.

The funding round, led by Sequoia Capital with participation from returning investors Andreessen Horowitz and ICONIQ, as well as new backers Lightspeed, Evantic, and Bond, brings ElevenLabs’ total capital raised to an impressive $781 million across five funding rounds. The startup has hinted at even more investment announcements later this month, with Nvidia already confirmed as a strategic investor.

From Text to Speech: The Magic Behind ElevenLabs

Founded by Polish entrepreneurs Mati Staniszewski and Piotr Dabkowski, ElevenLabs has carved out a niche at the intersection of artificial intelligence and audio. Its flagship technology transforms written text into speech that sounds astonishingly human, capable of replicating voices with uncanny accuracy. The startup’s AI tools have been used to bring the voices of Hollywood legends like Judy Garland and James Dean back to life, narrating books, articles, and digital content in a way that feels eerily authentic.

But ElevenLabs isn’t just about nostalgia. The company has struck high-profile deals with modern celebrities like Michael Caine and Matthew McConaughey, integrating their voices into its platform. This blend of cutting-edge AI and star power has made ElevenLabs a darling of both the tech and entertainment industries.

Doubling Down on Innovation

With the new influx of capital, ElevenLabs is “doubling down” on its enterprise platform, ElevenAgents, which leverages voice and conversational AI to revolutionize customer experience, sales, marketing, and internal workflows. The funding will also bolster the company’s research efforts, expanding work on emotional conversational models, dubbing, and audio general intelligence.

International expansion is another key focus, with plans to grow its presence in major markets like London, New York, San Francisco, Warsaw, and Dublin. The startup closed 2025 with over $330 million in annual recurring revenue (ARR), driven by rapid enterprise adoption from companies like Deutsche Telekom, Square, the Ukrainian Government, and Revolut. These organizations are using ElevenLabs’ technology for customer support, conversational commerce, citizen engagement, internal training, and inbound sales.

A Vision for the Future

Mati Staniszewski, co-founder of ElevenLabs, described the funding as a pivotal moment for the company. “The intersection of models and products is critical—and our team has proven, time and again, how to translate research into real-world experiences,” he said. “This funding helps us go beyond voice alone to transform how we interact with technology altogether.”

Staniszewski outlined ambitious plans to expand the company’s Creative offering, enabling creators to combine ElevenLabs’ best-in-class audio with video and agents. This will allow businesses to build agents that can talk, type, and take action, pushing the boundaries of what’s possible with AI-driven interactions.

“When we started ElevenLabs, we couldn’t have imagined the scale and impact we’ve reached today, with an incredible team doing the best work of their lives,” Staniszewski added. “Yet we stay hungry, knowing how early this space still is, as we build toward IPO and beyond.”

The Road to IPO

The $11 billion valuation and massive funding round have fueled speculation that ElevenLabs is gearing up for an IPO. While the company has not confirmed any concrete plans, Staniszewski’s comments suggest that going public is a key part of its long-term strategy. With its rapid growth, innovative technology, and strong market position, ElevenLabs is well-positioned to become a major player in the AI industry—and potentially one of the most valuable tech companies in the world.

As the AI race heats up, ElevenLabs is proving that the future of human-computer interaction is not just about text or visuals—it’s about sound, emotion, and the power of the human voice. And with $500 million in fresh capital and an $11 billion valuation, the company is ready to lead the charge.

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