ElevenLabs Raises $500M From Sequoia at an $11 Billion Valuation

Voice AI startup ElevenLabs announced on Wednesday that it has raised $500 million in a new funding round led by Sequoia Capital, which had previously invested in the company through a secondary tender offer. As part of the deal, Sequoia partner Andrew Reed will join ElevenLabs’ board.

The round values ElevenLabs at $11 billion, more than triple its valuation from its previous funding round in January 2025. Earlier this year, the Financial Times reported that the company was seeking to raise capital at that valuation.

ElevenLabs said that existing investor Andreessen Horowitz (a16z) quadrupled its investment in the round, while Iconiq Capital, which led the previous round, tripled its commitment. Other returning investors included BroadLight Capital, NFDG, Valour Capital Group, AMP Coalition, and Smash Capital.

New investors participating in the round include Lightspeed Venture Partners, Evantic Capital, and Bond Capital. ElevenLabs said it plans to disclose additional investors later in February, some of whom may be strategic partners.

With the latest round, ElevenLabs has now raised more than $781 million in total funding. The company said the new capital will be used to accelerate research and product development and to expand internationally, with a focus on markets including India, Japan, Singapore, Brazil, and Mexico.

Co-founder Mati Staniszewski suggested that the company is also exploring opportunities beyond voice, including AI agents and video. In January, ElevenLabs announced a partnership with LTX to produce audio-to-video content.

“The intersection of models and products is critical — and our team has proven, time and again, how to translate research into real-world experiences,” Staniszewski said in a statement. “This funding helps us go beyond voice alone to transform how we interact with technology altogether. We plan to expand our Creative offering — helping creators combine our best-in-class audio with video — and Agents, enabling businesses to build systems that can talk, type, and take action.”

The company has reported strong growth momentum, closing the year with $330 million in annual recurring revenue (ARR). In an earlier interview with Bloomberg, Staniszewski said ElevenLabs reached between $200 million and $300 million in ARR in just five months.

We closed 2025 at over $330M ARR - driven by our customers’ trust and impact.@matiii joined @Bloomberg earlier today to talk about the work we do with enterprises, our recent research release, and what’s next. pic.twitter.com/26rkaTCG3W — ElevenLabs (@elevenlabsio) January 12, 2026

Voice AI model providers have become a primary focus for both investors and large technology companies. In January, rival Deepgram raised $130 million from AVP at a $1.3 billion valuation. Around the same time, Google hired senior talent from the voice-model startup Hume AI, including its CEO, Alan Cowen.