Voice AI startup ElevenLabs has announced a significant Series D funding round, raising $500 million, with a valuation of $11 billion. This funding includes investments from major institutions like BlackRock, Wellington, D.E. Shaw, and Schroders, as well as prominent enterprises such as NVIDIA, Salesforce, Santander, KPN, and Deutsche Telekom. Additionally, individual investors Jamie Foxx, Eva Longoria, and Hwang Dong-hyuk have joined the investor list.
This funding round comes on the heels of ElevenLabs surpassing $500 million in Annual Recurring Revenue (ARR) and adding $100 million in net new ARR in Q1 2026. The company's rapid growth and increased valuation highlight its potential to revolutionize customer interactions through advanced voice AI technology.
One of the key aspects of ElevenLabs' success is its focus on building "human-level AI voice models." Mati Staniszewski, the company's co-founder and CEO, emphasizes the importance of creating systems that sound natural and "interact strangely." This commitment to quality and human-like interactions is a significant differentiator in the voice AI market.
The company's recent acquisitions, including the Polish voice AI startup Papla's team, further strengthen its research capabilities. ElevenLabs is also expanding its enterprise partnerships, having signed deals with Deutsche Telekom, Revolut, and Klarna, which underscores its potential to reshape how businesses interact with customers across various channels.
In addition to the funding, ElevenLabs has also closed a $100 million tender, providing an opportunity for retail investors to participate through Robinhood Ventures. This move demonstrates the company's commitment to democratizing access to its technology and fostering a broader investor base.
The company's rapid growth and innovative approach to voice AI have positioned it as a category leader and a foundational enabler for Deutsche Telekom's Industrial AI vision. With its advanced technology, strong investor backing, and expanding partnerships, ElevenLabs is poised to continue its trajectory of success and innovation in the voice AI space.
