Voice AI innovator ElevenLabs has announced a significant expansion in its investor base as part of a $500 million Series D funding round. This initiative, first disclosed in February, now includes major financial entities like BlackRock, Wellington, D.E. Shaw, and Schroders, alongside tech giants such as NVIDIA, Salesforce, Santander, KPN, and Deutsche Telekom. Noteworthy individual investors also joining the ranks are actor Jamie Foxx, actress Eva Longoria, and Hwang Dong-hyuk, the creator of the hit series "Squid Game."
In a remarkable achievement, ElevenLabs has surpassed an impressive $500 million in Annual Recurring Revenue (ARR), building on nearly $350 million from the previous year. Co-founder and CEO Mati Staniszewski revealed that the company added $100 million in new ARR during the first quarter of 2026, bringing its total to approximately $450 million.
The company's valuation has seen rapid growth, leaping from $6.6 billion last September to an astounding $11 billion as of February. Karine Peters, Managing Director at Deutsche Telekom's venture arm T. Capital, emphasized the company's pivotal role in transforming customer interactions, stating, "Voice is the highest-stakes channel for any customer interaction, and the bar for quality, latency, and security is extremely high." She highlighted that ElevenLabs is not merely a leader in its field but is becoming a fundamental component of Deutsche Telekom's vision for Industrial AI.
In the last quarter, ElevenLabs secured enterprise contracts with prominent companies including Deutsche Telekom, Revolut, and Klarna, further solidifying its market position.
In addition to the fundraising success, ElevenLabs completed a $100 million tender, marking its second such initiative in roughly six months. Staniszewski announced plans to allow retail investors to participate through Robinhood Ventures, although specific details remain under wraps.
He also stressed the necessity of developing AI voice models that sound human-like, as consumers are unlikely to trust systems that exhibit robotic or unnatural interactions. To enhance its research capabilities, ElevenLabs recently acquired the team from Polish voice AI startup Papla.
This strategic growth and investment not only highlight ElevenLabs' current success but also pave the way for transformative advancements in voice AI technology, potentially reshaping the future of customer engagement across various sectors.
