ElevenLabs Hits New Milestones in Fundraising and Growth

ElevenLabs, a leading voice AI company, has made significant strides in its fundraising efforts and business growth. The startup has revealed new investors participating in its $500 million Series D fundraise, surpassed $500 million in Annual Recurring Revenue (ARR), and accelerated its valuation to $11 billion.

"Voice is the highest-stakes channel for any customer interaction, and the bar for quality, latency, and security is extremely high," said Karine Peters, Managing Director at Deutsche Telekom's venture arm T. Capital. "ElevenLabs is not just a category leader – it is becoming a foundational enabler of Deutsche Telekom’s broader Industrial AI vision."

New Investors Join ElevenLabs' $500 Million Series D Fundraise

ElevenLabs has added several new investors to its $500 million Series D fundraise, including institutions such as BlackRock, Wellington, D.E. Shaw, and Schroders, as well as enterprises like NVIDIA, Salesforce, Santander, KPN, and Deutsche Telekom. Individual investors such as Jamie Foxx, Eva Longoria, and Squid Game creator Hwang Dong-hyuk have also joined the fundraise.

ElevenLabs Surpasses $500 Million in ARR

ElevenLabs has surpassed $500 million in ARR, a significant milestone for the company. The startup's co-founder and CEO, Mati Staniszewski, previously stated that ElevenLabs added $100 million in net new ARR in Q1 2026, ending the quarter at roughly $450 million in ARR.

Accelerated Valuation

ElevenLabs has accelerated its valuation rapidly, growing from $6.6 billion last September to $11 billion this February.

Enterprise Contracts and Funding

In the past quarter, ElevenLabs has signed enterprise contracts with the likes of Deutsche Telekom, Revolut, and Klarna. The company has also closed a $100 million tender, a second in roughly six months after the company issued one last September.

Human-Level AI Voice Models

Staniszewski emphasized the importance of building "human-level AI voice models" and noted that consumers won't trust systems that sound robotic or "interact strangely." Last month, the company acquired the team from Polish voice AI startup Papla to bolster its research team.

Acquisition and Future Plans

ElevenLabs will give an opportunity to retail investors to invest in the company through Robinhood Ventures, but didn't provide details about the program.