ElevenLabs is currently in talks to secure a new funding round exceeding $500 million. The startup is negotiating with the Scaleup Europe Fund, a €5 billion vehicle managed by EQT.
This potential investment follows a $500 million Series D round closed on February 4, 2026, which was led by Sequoia Capital. That deal valued the company at $11 billion, significantly higher than its $3.3 billion valuation in January 2025.
The company, founded in 2022 by Mati Staniszewski and Piotr Dabkowski, has reported substantial growth. By the end of 2025, its annual recurring revenue exceeded $330 million, reaching over $500 million by early May 2026.
ElevenLabs counts Deutsche Telekom, Revolut, and Klarna among its clients. Additionally, on September 10, 2026, the firm signed a multi-year licensing agreement with Universal Music Group to develop an AI-powered music platform.
The startup is currently planning international expansion into India, Japan, Singapore, Brazil, and Mexico. If the current funding discussions conclude successfully, the total capital raised by the company will exceed $1.2 billion.
