ElevenLabs, the AI company known for its voice synthesis and audio-generation technology, has just secured $500 million in new funding at an $11 billion valuation, more than tripling its value in roughly a year.

The Series D round — led by Sequoia Capital alongside continued backing from Andreessen Horowitz, ICONIQ Capital, and others — underscores strong investor confidence in ElevenLabs and the broader enterprise AI voice market.

Founded in 2022 by Mati Staniszewski and Piotr Dąbkowski, ElevenLabs first drew attention for its highly realistic text-to-speech models and has since expanded into conversational agents, translation, music generation, and other audio AI tools. The company now serves large corporate customers and public-sector partners.

ElevenLabs says it expects to finish 2025 with over $330 million in annual recurring revenue (ARR), driven by strong uptake of its enterprise platforms. The fresh capital will support global expansion — including into markets like India, Japan, Brazil, and Singapore — and accelerate product development in voice AI and conversational systems.

This fundraising round brings ElevenLabs’ total capital raised to approximately $781 million across five rounds since its founding, positioning it among the most valuable AI startups in Europe and beyond.

The company has also signaled it may be moving toward a public offering (IPO) in the coming years as it scales its platform and prepares for broader market opportunities.