Artificial intelligence voice generator startup ElevenLabs is in discussions to raise funding at a $11B valuation, the Financial Times reported.
ElevenLabs could raise hundreds of million of dollars from investors, the news outlet added, citing people familiar with the matter. The new funding, if it were to come at the $11B valuation, would make ElevenLabs the U.K.’s most valuable AI startup, ahead of N-Scale. ElevenLabs held a secondary share sale that valued it at $6.6B, the news outlet added.
The company generated $330M in annual recurring revenue in 2025, the news outlet added.
Led by CEO Mati Staniszewski, ElevenLabs is backed by a number of high profile investors, including venture capital firms Andreessen Horowitz, Sequoia Capital, and SV Angel. Nvidia (NVDA), Salesforce (CRM) Ventures and Deutsche Telekom are also investors in the company.
In 2024, ElevenLabs raised $80M in a Series B funding round, that valued the firm at over $1B.
ElevenLabs’ products allow users to convert text to speech online with its AI voice generator and create natural AI voices instantly in any language. The company also has an AI tool that allows users to create their AI voice clone from just a few minutes of audio.