Once somewhat of an outcast in Hollywood, today ElevenLabs counts some big stars on its roster, and it has just raised a $500m series D round.
ElevenLabs has raised $500m in a Series D funding round led by Sequoia Capital with partner Andrew Reed joining the board. Existing investors Andreessen Horowitz and Iconiq participated, with new investors coming on board including Lightspeed Venture Partners, Evantic Capital and Bond.
The new round gives ElevenLabs an $11bn valuation, more than tripling its valuation in the space of a year. ElevenLabs started out in 2022, developing a human-like AI text to speech model that got it into hot water in the early days with various Hollywood stars like Emma Watson. Voice actors took them to court at the time and ElevenLabs subsequently settled the lawsuit.
These days some of Hollywood’s elite are fully on board. In November 2025 it launched its Iconic Marketplace, adding actors Michael Caine and Matthew McConaughey to its roster. Having been burnt early on, the company today describes Iconic Marketplace as solving “a key ethical challenge in AI-driven media creation by enabling the ethical sourcing and licensing of some of the world’s most recognisable voices”.
“We started by building a voice that could sound human – and we did,” said said Piotr Dabkowski, co-founder of ElevenLabs. “Today we are building foundational models across the full audio stack – text to speech, transcription, music, dubbing and conversational models with a world-leading research team.”
“This funding helps us go beyond voice alone to transform how we interact with technology altogether. We plan to expand our Creative offering – helping creators combine our best-in-class audio with video and Agents.”
ElevenLabs says the funding will help it to continue its international expansion across London, New York, San Francisco, Warsaw, Dublin, Tokyo, Seoul, Singapore, Bengaluru, Sydney, São Paulo, Berlin, Paris and Mexico City, where they plan to have “go-to-market teams” to support enterprise adoption.
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