ElevenLabs has achieved over $330 million in annual recurring revenue, according to CEO Mati Staniszewski in a recent Bloomberg interview. The startup, founded in 2022, has seen rapid financial growth, reaching $100 million in ARR within 20 months, followed by $200 million in just 10 months, and then escalating to its current figure in five months.
The company's voice agent technology, which enhances customer support and experience by utilizing enterprise data, is being adopted by both startups and Fortune 500 companies. In a separate announcement, ElevenLabs reported that its technology manages over 50,000 calls each month for various enterprises.
In January 2025, ElevenLabs secured $180 million in Series C funding, led by a16z and ICONIQ Growth, at a valuation of $3.3 billion. This valuation was subsequently doubled when ICONIQ and Sequoia invested an additional $100 million to acquire employee shares. The company also expanded its offerings to include music creation and has partnered with celebrities like Michael Caine and Matthew McConaughey for AI-generated voice content.