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ElevenLabs has raised 500 million dollars in a Series D funding round. The raise pushes the company’s valuation to 11 billion dollars, which comes out to roughly 1.72 trillion yen. The round was led by Sequoia Capital. Sequoia partner Andrew Reed is joining ElevenLabs’ board as part of the deal. Existing investors also stepped up in a big way. Andreessen Horowitz increased its investment four times over earlier rounds, while ICONIQ tripled its commitment.
The timing lines up with strong business growth. By the end of 2025, ElevenLabs expects its annual recurring revenue to pass 330 million dollars. The company’s voice technology is already being used by large global enterprises and government organizations. Named users include Deutsche Telekom, Square, Revolut, and the Ukrainian government. The technology is being applied in very practical settings. Customer support. Conversational commerce. Citizen communications. Internal training. Inbound sales. The focus is not experimental use. It is production use at scale.
ElevenLabs plans to use the new funding to push its enterprise voice agent platform, ElevenAgents, further. The company is also rolling out upgrades like the Eleven v3 Conversational Model. This model is designed to improve response speed and make conversations sound more natural and expressive.
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Beyond products, ElevenLabs says it will continue investing heavily in core research. Areas of focus include emotional dialogue, dubbing, and audio centered AGI. At the same time, the company plans to expand globally by building local teams across Asia, Europe, and the Americas. The goal is to support customers more closely as demand for AI driven voice systems continues to grow.
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