ElevenLabs, a startup developing voice-based artificial intelligence technologies, has raised $500 million in a new investment round led by Sequoia Capital. The new funding values the company at $11 billion, more than tripling its previous round in January 2025.
Sequoia Capital partner Andrew Reed has joined the company’s board of directors as part of the round. Existing investors include a16z, which quadrupled its investment, while Iconiq, which led the previous round, tripled its investment. New investors include Lightspeed Venture Partners, Evantic Capital, and Bond.
ElevenLabs has raised more than $781 million in total investment to date. The company plans to use the funds for research and product development, as well as expansion in markets such as India, Japan, Singapore, Brazil, and Mexico.
The company ended 2025 with $330 million in annual recurring revenue (ARR). Experts say that voice-based artificial intelligence models remain one of the most attractive technology areas for investors at the moment.
