ElevenLabs, a New York based AI startup specializing in voice and speech generation, has tripled its valuation to $11 billion following a $500 million funding round led by Sequoia Capital. The company was founded in 2022 by co founder and CEO Mati Staniszewski and co founder and CTO Piotr Dąbkowski with the goal of making synthetic speech indistinguishable from real human voices.
Since its launch, ElevenLabs has grown rapidly, offering creators and enterprises tools for producing high fidelity voiceovers, voice cloning with consent, and expressive speech for audiobooks, films, games, and virtual assistants. Early investors included strategic tech backers and venture funds, positioning the company to scale quickly in the competitive AI voice market.
The newly closed $500 million round, reported by Forbes and TechCrunch, solidifies ElevenLabs as a market leader and reflects the surge of investor interest in generative AI beyond text and images. The company’s valuation jumped from around $3.7 billion in the previous round to $11 billion, highlighting rapid adoption of its platform by creators, publishers, and enterprises.
ElevenLabs plans to use the new capital to expand global operations, invest in research and development, and enhance safety, consent, and voice authentication features. The company now stands among the most valuable private AI startups in the world, signaling strong confidence in the commercial potential of synthetic voice technology.
