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Key Takeaways
- Significant funding round. Raised $500M at $11B valuation led by Sequoia Capital.
- Focus on ElevenAgents. Funds directed to expand ElevenAgents for large-scale voice and chat applications.
- Impact on enterprises. Enables enterprises to deploy advanced conversational agents, enhancing customer experience operations and global expansion.
Voice AI startup ElevenLabs today closed a $500 million Series D, pushing its valuation to an eye-watering $11 billion and signaling momentum in the enterprise conversational AI space.
According to company officials, the funds will support expansion of ElevenAgents, its platform for deploying enterprise voice and chat agents. Sequoia Capital led the round, with partner Andrew Reed joining the board. Andreessen Horowitz and ICONIQ increased their stakes, while Lightspeed Venture Partners, Evantic Capital and BOND joined as new investors.
The company reported closing 2025 with over $330 million ARR, driven by enterprise adoption of ElevenAgents. Customers include Deutsche Telekom, Square, the Ukrainian Government and Revolut.
ElevenLabs Recent Activity
In February 2025, ElevenLabs partnered with Decagon to launch a voice channel for AI-driven customer support. The partnership supported Decagon's rapid expansion, culminating in a $250 million Series D in January 2026 that tripled the company's valuation to $4.5 billion.
ElevenLabs expanded its enterprise footprint through partnerships with Square for AI voice ordering and MasterClass for voice-cloned coaching experiences. The company also secured voice licensing agreements with actors Michael Caine and Matthew McConaughey.
International expansion included establishing a Japanese subsidiary in Tokyo in April 2025. The company's valuation surged from $3.3 billion in January 2025 to $6.6 billion in a September secondary share sale.
Momentum in the Voice AI Market
Voice AI has matured from experimental IVR into mainstream customer service infrastructure, with 8.4 billion voice assistant units now in active use worldwide. The technology represents a significant evolution in conversational AI, moving beyond basic chatbots to sophisticated voice-driven interactions.
Enterprise conversational AI is projected to grow from $17.05 billion in 2025 to $49.8 billion by 2031. Nearly 50% of US internet users had used voice assistants as of 2024.
Yet adoption gaps persist. Only 11% of companies say they're highly effective at using AI to deliver human-like conversations. According to CMSWire's 2025 Digital Customer Experience Report, 46% of CX leaders expect AI to significantly reshape the digital customer experience within five years.
"The intersection of models and products is critical — and our team has proven, time and again, how to translate research into real-world experiences. This funding helps us go beyond voice alone to transform how we interact with technology altogether."
— Mati Staniszewski
Co-Founder, ElevenLabs
The ElevenLabs Platform & Offerings
ElevenLabs offers three primary platforms for enterprise and developer use.
| Capability | Description |
|---|---|
| ElevenAgents | Enterprise voice and chat agents with testing and monitoring |
| ElevenCreative | Audio generation and localization across 70+ languages |
| ElevenAPI | Low-latency voice infrastructure for developers |
| Eleven v3 Conversational | Upgraded agents with faster response times |
| Turn-taking system | Improved expressiveness in conversations |
ElevenAgents customers use the platform for customer support, conversational commerce, citizen engagement, internal training and inbound sales. These deployments align with the broader enterprise shift toward AI agents that can autonomously handle complex workflows.
ElevenCreative serves brands including Duolingo, NVIDIA and TIME. ElevenAPI powers platforms reaching over one billion users through companies including Meta, Epic Games, Salesforce and Harvey.
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ElevenLabs Background
Founded in 2022 by Piotr Dąbkowski (CTO) and Mati Staniszewski (CEO), ElevenLabs provides AI-driven text-to-audio and broader audio solutions for enterprises use cases, platform companies and content creators. Its portfolio includes text-to-speech, speech-to-speech transformation, sound effects, music generation and conversational voice agent platforms. The company is remote-first with its official headquarters in New York City.