ElevenLabs Roars to $11 Billion as IPO Talk Grows

AI voice startup ElevenLabs said it raised $500 million at an $11 billion valuation, tripling its $3.3 billion mark from a $180 million Series C in January 2025. Sequoia Capital led the round, joined by Andreessen Horowitz, Iconiq, Lightspeed, Evantic Capital, and Bond; cofounder Mati Staniszewski said Nvidia invested in September. Founded in 2022 and based in London, ElevenLabs moved beyond text-to-speech into speech-to-text, sound effects, dubbing, music and conversation. It sells voice and chat agents for enterprises and tools for brands and creators, counting Time, Nvidia, Meta, and Salesforce as users. The company said it ended 2025 above $330 million in annual recurring revenue and is building toward an IPO.