Voice AI startup ElevenLabs announced today that it has secured $500 million in fresh funding in a round led by Sequoia Capital, which had previously participated in the company’s most recent secondary transaction. As part of the deal, Sequoia partner Andrew Reed will take a seat on ElevenLabs’ board of directors.
The latest funding places the company’s valuation at $11 billion, marking a more than threefold increase compared with its previous round completed in January 2025. Earlier this year, the Financial Times reported that the startup was already in discussions to raise capital at that valuation level.
ElevenLabs noted that several returning backers significantly increased their commitments in the round. Andreessen Horowitz expanded its investment roughly fourfold, while Iconiq—lead investor in the previous round—tripled its participation. A number of earlier supporters, including BroadLight, NFDG, Valor Capital, AMP Coalition, and Smash Capital, also took part again. The new financing additionally brought in fresh capital from Lightspeed Venture Partners, Evantic Capital, and Bond.
The company added that additional investors—potentially strategic partners—will be revealed later in February. With this round, ElevenLabs’ total funding now exceeds $781 million. The fresh capital will be directed toward advancing research and product development, as well as scaling operations across key international markets, including India, Japan, Singapore, Brazil, and Mexico.