ElevenLabs announced it has raised $500 million in a new funding round led by Sequoia Capital, valuing the company at $11 billion, more than triple its valuation from January 2025. Sequoia partner Andrew Reed will join the company’s board. Existing investors including Andreessen Horowitz and ICONIQ significantly increased their stakes, alongside participation from BroadLight, NFDG, Valor Capital, AMP Coalition, Smash Capital, Lightspeed Venture Partners, Evantic Capital, and Bond.
Co-founder Mati Staniszewski said the funding will support AI research, product development, and global expansion across India, Japan, Singapore, Brazil, and Mexico, while extending ElevenLabs’ platform beyond voice into multimodal agents and video-enabled AI systems.
