ElevenLabs Raises 500 Million Dollars at 11 Billion Dollar Valuation

Artificial intelligence audio startup ElevenLabs has raised 500 million dollars in a Series D funding round, according to Music Business Worldwide AI and Music Business Worldwide. The financing round values the company at 11 billion dollars, which is more than triple its valuation from a year ago. [1][2]

Music Business Worldwide AI reported that venture capital firm Sequoia Capital led the funding round, with partner Andrew Reed joining the board of directors at ElevenLabs. Existing investors Andreessen Horowitz and ICONIQ increased their stakes, while Lightspeed Venture Partners, Evantic Capital, and BOND joined as new investors. Additional backers included BroadLight, NFDG, Valor Capital, AMP Coalition, and Smash Capital. [1]

ElevenLabs was founded in 2022 by Piotr Dąbkowski and Mateusz Staniszewski. Legally incorporated in the United States, the software company specializes in natural-sounding speech synthesis using deep learning and maintains offices in London, New York City, Warsaw, and San Francisco. The startup previously secured 180 million dollars in Series C funding in January 2025 at a 3.3 billion dollar valuation. [3][6]

Music Business Worldwide AI noted that further investors in the Series D round are expected to be disclosed later in the month. [1]