ElevenLabs, the AI voice-generation startup, has achieved over $330 million in annual recurring revenue. CEO Mati Staniszewski shared this milestone in an interview, highlighting the company’s rapid growth trajectory. Founded in 2022, ElevenLabs launched its first product in 2023. It took twenty months to reach $100 million in ARR, ten months to hit $200 million, and just five more months to reach the current figure.
Staniszewski noted that both Fortune 500 companies and startups are adopting its voice agent technology. This technology uses company data and knowledge bases to power customer support and experience interactions. The company has reported that enterprises are using its technology to handle more than 50,000 calls per month.
The startup raised $180 million in a Series C funding round in June 2025, co-led by a16z and ICONIQ Growth, achieving a $3.3 billion valuation. Just three months later, its valuation doubled to $6.6 billion when ICONIQ and an earlier investor, Sequoia, invested another $100 million to acquire employee shares.
Beyond voice generation and voice agents, ElevenLabs expanded into music creation capabilities last year. The company has also secured deals with celebrities, including Michael Caine and Matthew McConaughey, to use their voices for AI-generated content.