ElevenLabs says it passed $500M ARR, expands Series D

How did ElevenLabs say it reached $500 million in ARR?

ElevenLabs said in a May 5 blog post that it surpassed $500 million in annual recurring revenue in the first four months of 2026, up from $350 million at the end of 2025, as enterprise customers deployed its voice agents across customer support, sales, hiring and marketing operations. The company later described the same milestone in a June 8 story from The Economic Times tied to the appointment of Alexander Holt as field CTO.

ElevenLabs said enterprise use was a key driver of that growth, pointing to deployments across advertising, demos, sales and support in multiple languages. The company named NVIDIA, Salesforce, Santander, KPN and Deutsche Telekom among enterprises already using its products.

What did ElevenLabs say about its Series D?

On February 4, 2026, ElevenLabs announced a $500 million Series D at an $11 billion valuation. The company said Sequoia Capital led the round and that partner Andrew Reed joined its board. It also said Andreessen Horowitz and ICONIQ increased their participation, while new investors included Lightspeed Venture Partners, Evantic Capital and BOND.

ElevenLabs said the May 2026 investment was the third close of its previously announced Series D fundraise. In that update, the company said the close brought in new institutional backers including BlackRock, Wellington, D.E. Shaw and Schroders. It also said the financing drew participation from NVIDIA via NVentures, Santander, Jamie Foxx and Eva Longoria, and that more than 30 actors, musicians, athletes and entertainment executives invested for the first time in the close, including Jamie Foxx, Eva Longoria and Hwang Dong-hyuk.

tech.eu reported after that third close that ElevenLabs said it had raised more than $550 million in the Series D.

Which products and customers are central to the business?

ElevenLabs said the financing would support a broader push around ElevenAgents, its enterprise voice and conversational AI platform. The company described ElevenAgents as an open platform for enterprises and developers to build conversational voice and chat agents with reliability, integrations, testing and monitoring for large-scale operations.

In its February announcement, ElevenLabs said organizations including Deutsche Telekom, Square, the Ukrainian Government and Revolut use ElevenAgents for support, commerce, citizen engagement, training and inbound sales. It also said Deutsche Telekom used the platform for customer support agents, an in-network AI agent for live assistance and translation during calls, and marketing video production.

ElevenLabs said ElevenCreative helps creators and brands generate, edit and localize audio in more than seventy languages, with Duolingo, NVIDIA and TIME among the users it named. It also said ElevenAPI provides low-latency, production-grade voice infrastructure used by Meta, Epic Games, Salesforce, MasterClass and Harvey for platforms reaching more than one billion users.

What comes next for ElevenLabs?

ElevenLabs said it plans to keep expanding internationally with local teams in different markets. In February, it said it was growing across 14 cities including Bengaluru, Tokyo, Singapore, São Paulo and Mexico City, and later repeated that it planned continued international expansion with local teams in market.

The company also said it closed a $100 million tender offer alongside the Series D, its second tender in less than a year. Tech.eu separately reported that ElevenLabs said it completed a $100 million employee share sale, following another one in September 2025.

According to ElevenLabs cofounder Mati Staniszewski and the company, as quoted by The Economic Times, the field deployment engineering team worked with Fortune 500, FTSE 100 and government customers to move AI deployments from pilots into production. The same report said Holt joined the startup in 2023, when it had 10 employees, and that the company had grown to 500 employees by June 2026. The cofounder and company also said ElevenLabs supported the Ukrainian government with voice agents that kept government phone lines staffed during air raid warnings.