ElevenLabs, the AI voice generation startup, has exceeded $330 million in annual recurring revenue (ARR), as confirmed by CEO Mati Staniszewski in a Bloomberg interview.
Staniszewski elaborated on the company’s growth trajectory, stating, “This [growth in ARR] truly reflects the company’s momentum. We established the company in 2022 and launched our initial product in 2023. It took us 20 months to hit $100 million in ARR, 10 months to reach $200 million, and just five months to achieve the current figure.”
Staniszewski highlighted that both Fortune 500 enterprises and emerging companies are adopting their voice agent technology, which utilizes internal company data and knowledge bases to enhance customer support and experience interactions. In a separate X post, ElevenLabs noted that its technology is deployed by enterprises to manage over 50,000 calls monthly.
The startup secured $180 million in Series C funding co-led by a16z and ICONIQ Growth, reaching a $3.3 billion valuation in January 2025. Subsequently, it doubled its valuation within months when ICONIQ and existing investor Sequoia collectively invested an additional $100 million to acquire employee shares.
Beyond its voice generation and voice agent models, ElevenLabs also introduced music creation capabilities last year and forged agreements with notable celebrities, including Michael Caine and Matthew McConaughey, to utilize their voices for AI-generated audio content.