ElevenLabs Secures Major Investors in $500 Million Series D, Pushes Valuation Past $11 Billion
Key Points
- ElevenLabs raised $500 million in a Series D round, adding investors BlackRock, Wellington, D.E. Shaw, Nvidia, Salesforce Ventures, Deutsche Telekom and others.
- Hollywood investors Jamie Foxx, Eva Longoria and Hwang Dong‑hyuk also joined the round.
- Company valuation climbed to roughly $11 billion, up from $6.6 billion a year earlier.
- Annual recurring revenue exceeded $500 million, with $100 million added in Q1 2026.
- Enterprise contracts signed with Deutsche Telekom, Revolut and Klarna during the quarter.
- ElevenLabs closed a second $100 million tender within six months, highlighting strong demand.
- Plans announced to let retail investors participate via Robinhood Ventures.
- Acquisition of Polish voice‑AI startup Papla’s team strengthens research capabilities.
Voice‑AI startup ElevenLabs announced a $500 million Series D round that added heavyweight investors such as BlackRock, Wellington, D.E. Shaw, Nvidia and celebrity backers Jamie Foxx and Eva Longoria. The funding lifts the company’s valuation to roughly $11 billion and brings annual recurring revenue past the $500 million mark. In the first quarter of 2026, ElevenLabs added $100 million of new ARR, signing enterprise deals with Deutsche Telekom, Revolut and Klarna. The firm also plans to open retail‑investor participation through Robinhood Ventures.
ElevenLabs, the San Francisco‑based voice‑AI firm, closed a $500 million Series D financing round that brought a mix of institutional, corporate and celebrity investors to its table. Among the new backers are asset‑management giant BlackRock, hedge fund Wellington, quantitative firm D.E. Shaw, and European asset manager Schroders. Technology heavyweights Nvidia and Salesforce Ventures also signed on, alongside telecom operators Deutsche Telekom and KPN, and financial services group Santander.
Hollywood star power helped raise the profile of the round. Actor‑musician Jamie Foxx, actress Eva Longoria and "Squid Game" creator Hwang Dong‑hyuk each committed personal capital, underscoring the growing appeal of AI‑driven voice technology beyond the traditional tech sector.
The capital injection follows a series of growth milestones that have propelled ElevenLabs from a $6.6 billion valuation last September to roughly $11 billion this February. The company reported annual recurring revenue (ARR) topping $500 million, up from just under $350 million at the close of last year. Chief executive and co‑founder Mati Staniszewski said the firm added $100 million of net new ARR in the first quarter of 2026, ending the period with about $450 million in ARR.
"Voice is the highest‑stakes channel for any customer interaction, and the bar for quality, latency, and security is extremely high," said Karine Peters, managing director of Deutsche Telekom’s venture arm T.Capital. "ElevenLabs is not just a category leader – it is becoming a foundational enabler of Deutsche Telekom’s broader Industrial AI vision. From voice‑as‑a‑service to multilingual automation and in‑network AI agents, we believe the company is uniquely positioned to reshape how businesses interact with customers across all channels."
Enterprise contracts signed in the past quarter reflect that confidence. Deutsche Telekom, digital‑bank Revolut and fintech giant Klarna have all inked agreements to embed ElevenLabs’ voice models in their customer‑facing platforms. The company also closed a $100 million tender – the second such award in roughly six months – signaling strong demand for its technology in large‑scale deployments.
Beyond fundraising, ElevenLabs is expanding its ownership base. Staniszewski announced plans to allow retail investors to buy shares through Robinhood Ventures, though details of the program remain under development. The move aims to democratize access to a company that many see as a future cornerstone of AI‑driven communication.
In a strategic talent push, ElevenLabs acquired the research team of Polish voice‑AI startup Papla last month. The acquisition bolsters its R&D capabilities and reinforces the firm’s commitment to advancing human‑level AI voice models that avoid the robotic or uncanny‑valley effects that can erode consumer trust.
With fresh capital, a soaring valuation and an expanding roster of high‑profile customers, ElevenLabs appears set to cement its role as a key infrastructure provider for voice‑centric AI applications across industries.