ElevenLabs receives fresh $500m injection as it seeks to get into AI voice agents

Sequoia leads the AI startup’s Series D funding round as revenue surpasses $330m.

ElevenLabs, the startup that turned AI voice synthesis into a global phenomenon, has officially joined the ranks of the "AI Decacorns." On February 4, 2026, the company announced a $500 million Series D funding round led by Sequoia Capital, catapulting its valuation to $11 billion. The deal more than triples the company’s valuation from just one year ago ($3.3B), cementing its status as the most valuable AI company in the United Kingdom.

The funding round saw massive follow-on participation from Andreessen Horowitz (a16z) - which reportedly quadrupled its previous investment - and ICONIQ, alongside new backers like Lightspeed and BOND.

From voice cloning to "ElevenAgents"

While ElevenLabs first gained fame (and notoriety) for its ultra-realistic voice cloning, this new capital injection is earmarked for a much broader mission: ElevenAgents.

The company is moving aggressively into the autonomous agent space. Its new platform allows businesses to deploy voice and chat agents that can not only speak and listen but also execute tasks across a company's software stack.

Strategic partners like Deutsche Telekom and Deliveroo are already using these agents to replace legacy IVR (phone menu) systems with "goal-driven" AI that can resolve complex customer issues in over 30 languages.

Emotional V3 model

Alongside the funding, ElevenLabs is rolling out a new alpha version of its V3 Conversational Model, which features lower latency and a "novel turn-taking system" designed to make AI conversations feel less like a walkie-talkie and more like a natural human dialogue.

The "Audio General Intelligence" roadmap

Co-founders Mati Staniszewski (ex-Palantir) and Piotr Dabkowski (ex-Google) stated that ElevenLabs is no longer just a "speech" company. They are now building "foundational models across the full audio stack."

The company is doubling down on its AI music generator, positioning it as a studio-quality rival to Suno and Udio.

To solve the ethical challenges of voice cloning, ElevenLabs has expanded its marketplace where stars like Matthew McConaughey and Michael Caine (and the estates of legends like Liza Minnelli) license their voices for commercial use, ensuring a "consent-first" model for the industry.

Global expansion and financial momentum

The fresh capital will fund new "go-to-market" teams in 14 global cities, including Tokyo, Seoul, Berlin, and São Paulo, as the company prepares for an anticipated IPO in late 2027.

The staggering valuation is backed by actual revenue, which has become rare in the current AI "hype" cycle. ElevenLabs reportedly closed 2025 with an Annual Recurring Revenue (ARR) of over $330 million.

"We started by building a voice that could sound human and we did," said Dabkowski. "This funding helps us go beyond voice alone to transform how we interact with technology altogether."