funding · February 4, 2026
By Joe Jurczyk, Editor
ElevenLabs raises $500M Series D at $11B valuation
The voice AI company behind much of the speech layer in conversational digital humans tripled its valuation in a year, and named its enterprise agents platform as the primary focus for the new capital.
ElevenLabs announced a $500 million Series D led by Sequoia Capital at an $11 billion valuation, more than triple its valuation twelve months earlier. Andreessen Horowitz, ICONIQ, Lightspeed, Evantic Capital and BOND also participated, alongside existing investors. Total funding now stands at $781 million across five rounds since the company was founded in 2022.
The company said it closed 2025 with over $330 million in annual recurring revenue, citing enterprise customers including Deutsche Telekom, Square, Revolut and the Ukrainian Government. Sequoia partner Andrew Reed joins the board.
Why it matters for digital humans: ElevenLabs sits in the voice layer of most conversational digital human stacks rather than competing with the avatar vendors directly. The company named ElevenAgents, its enterprise voice and conversational AI platform, as a primary destination for the new capital — which puts it closer to the orchestration layer that platform vendors also occupy.
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