Photo Credit: ElevenLabs
AI voice company ElevenLabs has just announcd new investors in its $500 million Series D fundraise, including Eva Longoria, Jamie Foxx, BlackRock, and Nvidia.
AI voice startup ElevenLabs first announced its Series D funding round in February, and now the company has revealed a list of new investors who contributed. These include entities like BlackRock, Wellington, Deutsche Telekom, Nvidia, and Salesforce, as well as individual investors like actors Jamie Foxx and Eva Longoria.
On top of its ambitious vocal goals, company recently expanded beyond its core text-to-speech and voice-cloning technology to offer high-fidelity, user-prompted music generation. It’s all happening under the ElevenLabs Music umbrella, with Merlin and Kobalt early licensors.
ElevenLabs also announced that they’ve surpassed $500 million in annual recurring revenue (ARR) after last year’s $350 million. ElevenLabs co-founder and CEO Mati Staniszewski said that the company added $100 million in new net ARR in Q1, which ended the quarter at around $450 million. Meanwhile, its valuation has rapidly grown from $6.6 billion in September to a whopping $11 billion this February.
“Voice is the highest-stakes channel for any customer interaction, and the bar for quality, latency, and security is extremely high. ElevenLabs is not just a category leader—it is becoming a foundational enabler of Deutsche Telekom’s broader Industrial AI vision,” said Karine Peters, managing director at Deutsche Telekom’s venture arm T.Capital. “From voice-as-a-service to multilingual automation and in-network AI agents, we believe the company is uniquely positioned to reshape how businesses interact with customers across all channels.”
“Every major enterprise will communicate with its customers and audiences through AI agents,” said Rob Mazzoni, Technology Sector Lead for Late-Stage Growth at Wellington Management. “The companies that power natural, human-like interactions at scale will become critical global infrastructure. ElevenLabs has built the technical leadership and commercial traction to define the category, and the company’s growth trajectory reflects the scale of the opportunity ahead.”
In addition to Deutche Telekom, the startup has signed enterprise contracts with companies like Revolut and Klarna in just the past quarter alone.
ElevenLabs also revealed that it closed a $100 million tender in addition to the fundraising; its second in around six months since it last issued one in September. The company will provide an opportunity for retail investors to further invest through Robinhood Ventures, but has yet to provide details about that initiative.
