ElevenLabs Surpasses $330 Million in Revenue as Voice AI Demand Surges

ElevenLabs, the artificial intelligence startup specializing in synthetic voice technology, surpassed $330 million in annual recurring revenue (ARR) last year, CEO Mati Staniszewski said in a recent interview.

The milestone highlights the rapid commercial scale of generative AI tools as they transition from consumer novelties to enterprise-grade infrastructure. Founded in 2022, the London-based company has experienced sharp growth, reaching $100 million in ARR in 20 months, $200 million in 10 months, and surpassing the $330 million mark in just five additional months.

The company's technology, which allows users to generate ultra-realistic speech and clone voices with high emotional fidelity, is increasingly being adopted by major corporations. ElevenLabs reported that its enterprise revenue grew more than 200% over the past year, with clients including Cisco, NVIDIA, Adobe, and Epic Games.

"This ARR growth reflects our overall momentum," Staniszewski told Bloomberg TV. He noted that the company is approaching a 50-50 revenue split between large enterprise clients and its self-serve consumer platform.

The startup’s valuation has followed a similarly steep trajectory. In June 2025, ElevenLabs raised $180 million in a Series C round led by Andreessen Horowitz and ICONIQ Growth, valuing the firm at $3.3 billion. By September, its valuation doubled to $6.6 billion following a $100 million employee tender offer led by ICONIQ and Sequoia Capital.

Despite its commercial success, ElevenLabs has navigated significant headwinds regarding the ethical use of its software. In 2024, the company’s tools were reportedly used to create deepfake robocalls during political campaigns, prompting the firm to implement new safeguards, including audio watermarking and enhanced moderation systems.

Beyond simple text-to-speech, the company has expanded its portfolio to include conversational AI agents, speech-to-text transcription, and AI-driven music generation. It has also secured high-profile partnerships with actors such as Matthew McConaughey and Michael Caine to license their voices for digital content.

ElevenLabs currently employs more than 330 people, representing a significant increase from its workforce of just 70 people one year ago. The company remains one of the fastest-growing players in the "AI application" layer, outstripping the growth curves of traditional software-as-a-service (SaaS) firms.