ElevenLabs has crossed $330 million in annual recurring revenue, marking a major milestone for the AI voice startup.
CEO Mati Staniszewski shared the update in an interview with Bloomberg. The figure illustrates the rapid growth of the company since launching its first product.
Founded in 2022, ElevenLabs entered the market with a focus on AI-generated voice technology.
Its first commercial product was launched in 2023. Since then, revenue growth has accelerated at a striking pace.
Revenue Milestones
Staniszewski explained that the company’s ARR growth followed an accelerating pattern. It took ElevenLabs 20 months to reach $100 million in ARR.
The next $100 million came in just 10 months. After that, the company reached $330 million in only five additional months.
According to the CEO, this trend reflects strong momentum across the business. It also points to growing customer trust and expanding use cases.
In a crowded AI market, sustained revenue growth of this speed is uncommon.
Voice Technology
ElevenLabs serves both large enterprises and early-stage startups. Many customers use its voice agent technology to power customer support and customer experience interactions.
These voice agents rely on company data and internal knowledge bases. This allows them to answer customer questions accurately and consistently.
As a result, businesses can automate a high volume of voice interactions without losing context.
In a separate post on X, ElevenLabs stated that its technology has been deployed by enterprise customers to handle more than 50,000 calls per month.
This level of usage suggests that the product is embedded in day-to-day operations, not limited to pilot programs.
Funding History
The company’s financial growth has been matched by investor confidence. In January 2025, ElevenLabs raised $180 million in Series C funding.
Andreessen Horowitz and ICONIQ Growth co-led the round and valued the company at $3.3 billion.
Months later, the company’s valuation doubled. ICONIQ and Sequoia, an earlier investor, invested an additional $100 million.
This funding was used to purchase employee shares rather than raise new capital.
Secondary share purchases of this size often signal long-term belief in the company’s direction and leadership.
Expanding Beyond Voice Into Music And Licensed Content
Beyond voice generation and voice agents, ElevenLabs has expanded its product lineup. Last year, the company launched music creation capabilities.
The startup has also secured licensing agreements with well-known actors to onboard licensed and consent-based voice use.
Michael Caine and Matthew McConaughey have both partnered with ElevenLabs to allow their voices to be used in AI-generated content.
