ElevenLabs Hits Major Milestones in Voice AI Space

ElevenLabs, a leading voice AI company, has made significant strides in the industry, surpassing $500 million in annual recurring revenue (ARR) and announcing new investors.

ElevenLabs revealed that its $500 million Series D fundraise, first announced in February, has added new investors such as BlackRock, Wellington, D.E. Shaw, and Schroders; enterprises like NVIDIA, Salesforce, Santander, KPN, and Deutsche Telekom; and individual investors including Jamie Foxx, Eva Longoria, and Squid Game creator Hwang Dong-hyuk.

The company has also accelerated its valuation rapidly, growing from $6.6 billion last September to $11 billion this February. ElevenLabs has signed enterprise contracts with the likes of Deutsche Telekom, Revolut, and Klarna in the past quarter.

• ElevenLabs surpassed $500 million in ARR, after ending last year with nearly $350 million in ARR.
• The company added $100 million in net new ARR in Q1 2026, ending the quarter at roughly $450 million in ARR.
• ElevenLabs has accelerated its valuation rapidly, growing from $6.6 billion last September to $11 billion this February.

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

ElevenLabs is focused on building human-level AI voice models that consumers will trust. The company has acquired the team from Polish voice AI startup Papla to bolster its research team.

“Consumers won’t trust systems that sound robotic or ‘interact strangely’ and emphasized the importance of building ‘human-level AI voice models.’”

ElevenLabs also closed a $100 million tender, a second in roughly six months after the company issued one last September. The company will give an opportunity to retail investors to invest in ElevenLabs through Robinhood Ventures, but didn’t provide details about the program.

The voice AI company has made significant strides in the industry, and its future looks promising.