Wedoany.com Report on Feb 6th, AI voice technology company ElevenLabs recently announced the completion of a $5 billion Series D funding round led by Sequoia Capital, valuing the company at $110 billion. This funding round comes just one year after its previous round, where the company raised $1.8 billion at a valuation of $33 billion.
Institutions participating in this round include existing investors Broadlight, NFDG, Valor Capital, AMP Coalition, and Smash Capital. At the same time, Lightspeed, Evantic Capital, and Bond joined as new investors. Previous investors Andreessen Horowitz and Iconiq also continued their participation in this round.
ElevenLabs stated that the funds raised will primarily be used to develop enterprise service products and expand its conversational agent platform. This platform can be applied across various fields such as enterprise sales, marketing, customer service, and internal communications.
Company co-founder Mati Staniszewski revealed in an interview that as of December 2025, the revenue split between enterprise users and consumer users at ElevenLabs was approximately 50-50. He anticipates this will adjust to 60-40 by December 2026 and further shift to 70-30 by the end of 2027.
Founded in 2022 by former employees of Google and Palantir, the company focuses on developing AI technology for synthetic voice generation. Its tools enable conversion between voice and text, and feature emotion and tone recognition capabilities, helping publishers and content creators transform written materials into audio content.
In early 2026, ElevenLabs expanded its operations in New York, opening a new office and investing $33 million in research and development. The company currently also has offices in Warsaw and London, with a global workforce of approximately 400 employees. Last year, the company received nearly 250,000 job applications.
Staniszewski stated on social media: "There is still so much to build. We maintain an aggressive mindset, recognizing that this field is still in its early stages, and we are moving towards an IPO and longer-term goals." As AI voice technology continues to develop, ElevenLabs' funding progress is drawing significant attention from the industry.
