tech
February 4, 2026
Nvidia-backed AI voice startup ElevenLabs hits $11 billion valuation in fresh fundraise, as it eyes IPO
Global funding for AI startups hit record levels in 2025, with European ones raising a record $21.6 billion, per Dealroom.
TL;DR
- ElevenLabs raised $500 million at an $11 billion valuation.
- The funding round was led by Sequoia Capital, with participation from existing and new investors.
- The company plans to pursue an IPO.
- ElevenLabs has expanded its offerings beyond text-to-speech to include speech-to-text, sound effects, dubbing, music, and conversation.
- Their products enable enterprises to deploy voice and chat agents and allow creators to generate and localize audio.
- Major tech companies like Meta and Salesforce use ElevenLabs' voice infrastructure.
- The company reported over $330 million in annual recurring revenue for 2025.
- ElevenLabs intends to expand its offerings for creators and build agents that can talk, type, and take action.
- The company has offices in Europe, Brazil, Mexico, India, South Korea, Japan, and the U.S.
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